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2016 (1) TMI 1228 - AT - Income TaxGenuineness of Speculative loss - assessee is engaged in the business of broking and dealing in commodities - Held that:- The assessee is a registered non-member of Exchange; Shri Bharatkumar Ishwarlal Patel is a member of ACEL through which the transactions have been carried out which is not disputed by the Assessing Officer in the remand reports. ACEL permits such transactions under its domain. In view of these facts and circumstances, I hold that the ld. CIT(A) has rightly decided the issue in favour of the assessee by elaborate observations, discussions and reasons which cannot be found fault with. - Decided in favour of assessee
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