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2021 (7) TMI 598 - HC - Income TaxDisallowance of short term capital loss - Whether assessing authority rightly rejected the said claim as the assessee had failed to explain correctness of said claim and failed to substantiate with any materials? - HELD THAT:- It is not in dispute that if against the order passed in the case of the assessee for the Assessment Year 2007-08 an appeal was preferred before this court, which was dismissed in view of the bar contained in the Circular dated 08.08.2019 pertaining to monitory limit. Thus, the order passed by the tribunal has attained finality. Therefore, in the fact situation of the case, the tribunal rightly affirmed the order of the Commissioner of Income Tax (Appeals) in setting aside the disallowance of short term capital loss. Therefore, the substantial question of law No.2 is answered in affirmative and against the revenue.
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