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2011 (6) TMI 50 - HC - Income TaxCarry forward and set off of loss - Additional evidence - The appellant contended that the loss incurred in share dealing business should not be taken as speculation loss as per explanation to Section 73 of the Income-tax Act - it is a fit case where the Assessing Officer should be directed to allow the set off loss incurred in the purchase and sale of shares treating the same as business loss - Appeal is allowed by way of direction upon the Assessing Officer to treat the assessee as coming within the exception to the Explanation added to Section 73 of the Act
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