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2018 (3) TMI 731 - AT - Income TaxLoss claim arising from MCX trading difference - speculation loss OR normal business loss - Held that:- Assessee’s loss in question arising from its transactions carried out in MCX are not delivery based since not executed in a recognized exchange. It fails to dispute the fact that the relevant exchange i.e. MCX stock exchange stood recognized w.e.f. financial year 2013-14. It has come on record that in case of Vimal Oil & Foods Ltd. (2015 (8) TMI 70 - ITAT AHMEDABAD) has followed assessee’s case itself in preceding assessment year 2011-12 as held that such a subsequent notification of stock exchange covers preceding assessment years as well. This is not the Revenue’s case that the CIT(A)’s identical findings in preceding assessment year 2011-12 have not attained finality. - Decided against revenue.
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