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2014 (1) TMI 17 - HC - Income TaxWhether loss on share trading activity be set off against profits of business of the company - Held that:- Following Commissioner of Income-tax Vs. M/S Narain Properties Ltd [2012 (6) TMI 38 - ALLAHABAD HIGH COURT] - The petitioner is covered under Explanation to Section-73 of the Act and is entitled to set off the losses from sale and purchase of the share against the profits of the business of the company from loans and advance - Decided in favour of petitioner.
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