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2010 (2) TMI 804 - AT - Income TaxAddition u/s. 2(22)(e) on the basis that the lender companies and the assessee have common share holder having more than 20% of share holding in both doner and donee companies. - held that:- the present assessee company is not a registered shareholder in the companies, who had advanced the loan to the assessee company, the provisions of section 2(22)(e) cannot be applied. - decided in favour of Assessee. Loss incurred in earlier year and held by the AO as was speculative loss was of different nature than gain arising during the year without appreciating that in the facts of the appellant nature of loss as well as income was same and both had arisen on account of valuation of shares held as stock in trade. - held that:- the gain or profit arising to the assessee during the current year as a result of valuation of shares in respect of which the loss was determined in earlier years, is also to be treated as a speculation. decided in favour of Assessee but remand back to AO for Statistical Purpose.
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