1999 (9) TMI 4 - SC - Income Tax

Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that the notional loss in the investment trading (India) to the extent of ₹ 7,45,35,029 by working out a difference between the book value of shares as shown in the final accounts and their market price as on the last date of the accounts, is admissible to be deducted from the book profits of the assessee-bank - Held, no - question referred by Tribunal are answered in favour of the assessee