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TMI Blog2020 (11) TMI 377X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee was rejected by the lower authorities. Tribunal has proceeded further to deal with this argument of the learned AR of the assessee that the sale of shares by the assessee for a partly sum of ₹ 10,000/- as against the cost of acquisition of ₹ 300 lakhs was for this reason that the assessee wanted to stop loss and on this aspect also, the Tribunal held that the sale itself is not beyond doubt but even after observing this, the Tribunal observed that the assessee cannot be worse of at the Tribunal and hence, the Tribunal cannot reduce the amount of loss allowed by the AO. This is not the basis of the Tribunal order in the present case that the sale is in doubt. The primary basis of the Tribunal order is this th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and therefore, this Tribunal order is containing an apparent mistake which should be rectified under section 254(2) of the Income Tax Act, 1961. 2. In course of hearing of the MP, learned AR of the assessee appeared and reiterated the same contentions which are raised by the assessee in the MP as noted above. As against this, learned DR submitted that there is no apparent mistake in the Tribunal order and therefore, the MP filed by the assessee should be dismissed. 3. We have considered the rival submissions and have gone through the material available on record. We find that in para 5 of the impugned Tribunal order, the issue in dispute was decided by the Tribunal and for the sake of ready reference, we reproduce this para, which re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 10,000/- which is merely about 0.3% of the face value of the shares sold. Hence the sale itself is not beyond doubt. But the appellant cannot be worse of at the tribunal and hence, we cannot reduce the amount of loss allowed by the AO but in view of above discussion, we decline to interfere in the order of CIT (A). 3. From the above para reproduced from the Tribunal order, it is seen that this fact is very much noted and discussed by the Tribunal that MD of the concerned company in the statement recorded on 05.03.2015 has stated that the shares are allotted @ ₹ 10/- per share and the net worth of the company was in negative when the assessee purchased the shares . The Tribunal has noted this aspect also that both the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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