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2009 (3) TMI 35 - BOMBAY HIGH COURT
Losses suffered on account of book valuation – explanation to S. 73 will cover both shares which are stock in trade and shares which are traded in the F.Y. for purpose of considering the loss and profit for that year – there can be no difference between the losses suffered in the course of trading by delivery and losses in terms of the book value - Tribunal rightly hold that the loss of profit on account of valuation amounts to revenue losses or revenue receipt – assessee’s appeal dismissed