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2011 (6) TMI 871 - GUJARAT HIGH COURTExtract: .......e cannot be disallowed. The question is, accordingly, answered in favour of the assessee and against the revenue. The Income Tax Appellate Tribunal was right in allowing the short term capital loss on sale of mutual funds within one day after earning tax free dividend income thereon. 7. The appeal is accordingly dismissed with no order as to costs.
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