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2015 (5) TMI 270 - HC - Income TaxActual loss incurred in F & O transaction - Tribunal confirmed the addition to the extent of ₹ 14,19,919/- (Rs.12,31,169.88 + ₹ 1,88,750/-) as income of the assessee in respect of the unaccounted bank account in question - Tribunal making addition of peak credit and also gross profit on cash deposit in bank account? - Held that:- It cannot be said that there is any error committed by the learned Tribunal, which calls for the interference of this Court. Now so far as the contention on behalf of the appellant with respect to the alleged claim of the assessee with respect to the loss of ₹ 56,99,495/- is concerned, as rightly observed by the learned CIT(A), as such the assessee failed to justify the said loss. Before the learned Assessing Officer there was no whisper by the assessee as to how he has arrived at the alleged loss of ₹ 56,99,495/-. Thus, as such, the assessee miserably failed to establish the genuineness of the said transactions regarding the alleged loss. Under the circumstances, for the reasons assigned by the learned CIT(A) with respect to the claim of the assessee with respect to the alleged loss of ₹ 56,99,495/- reproduced hereinabove, we see no reason to interfere with the same. No substantial question of law - Decided against assessee.
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