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2018 (4) TMI 1361 - AT - Income TaxDisallowance of claim on account of derivative transactions - bogus loss - Held that:- The assessee has provided documentary evidence by way of contract notes, bank statements evidencing cheque payments for all these transactions, payment of security transactions tax before the Assessing Officer. The National Stock Exchange has confirmed that these transactions have taken place in the exchange and in the name of the assessee. The impugned transactions were carried out through banking channel and all the supporting evidence such as contract note, payment of STT were filed at the time of assessment proceedings. The impugned loss claimed by assessee is genuine loss in the above facts and circumstances of the case and therefore eligible for deduction. See M/s. Ratnabali Commodities vs ITO [2018 (4) TMI 1295 - ITAT KOLKATA] - Decided in favour of assessee
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