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2014 (11) TMI 802 - HC - Income TaxTrading loss disallowed - details provided by the assessee to substantiate the claim or not – Held that:- The entries in the books of Accounts will not be a new loss or payment, which is established from the record and which is required to be considered - Further, the payment is made at the Stock Exchange, otherwise also the assessee is registered as a Stock Broker and hence, all the authorities have committed an error in not considering the amount of ₹ 23,00,000/- as the loss – the amount is to be treated as business loss – Decided in favour of assessee.
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