Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
⚠️ This portal will be discontinued on 31-07-2025
If you encounter any issues or problems while using the new portal,
please
let us know via our feedback form
so we can address them promptly.
Home
2017 (3) TMI 84 - AT - Income TaxTreatment to loss - business loss OR capital loss - mutual fund transactions - Held that - The assessee has been showing the transactions from the aforesaid activities as business transaction which were accepted by the Revenue in earlier assessment years. On examination of the order of lower authorities we find that there was no change in the factual position of the assessee. The assessee has also been showing such transactions as business transactions in its books of accounts. In view of above we find that the assessee has been showing its mutual fund transactions under the head business and profession . There was no change in the stand of the assessee with that of the earlier years. Therefore we find that the assessee has shown the impugned loss from the source of the business correctly. The ld DR has also not brought anything contrary to the finding of ld CIT(A). In view of above we are inclined not to interfere in the order of ld CIT(A). Hence this ground of appeal of the Revenue is dismissed.
|