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2017 (9) TMI 738 - HC - Income TaxClaim of provision for “Mark to Market” loss - when it was crystallized - Held that:- We are of the opinion that interest of justice would be served if the order of the Tribunal is set aside as far as this issue is concerned as well and the Tribunal be directed to consider it afresh when the appeals as aforesaid are being decided. We therefore permit both sides to argue on the question of the claim of provision for “Mark to Market” loss and whether it was contingent as urged and whether it was crystallized at the end of the year and therefore not allowable as revenue deduction in the previous relevant year. We keep open all contentions of both sides even with regard to this issue. The Tribunal to decide this ground without being influenced by the earlier order or any finding and conclusion therein.
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