2005 (7) TMI 645 - ITAT MUMBAI BENCH (SPECIAL BENCH)

Extract:
.......the loss arising from these transactions set off against his income from any other transactions or source. 143. In the result, we direct that the assessee be allowed loss as claimed in the assessment year 2000-01 and assessment year 2001-02 in relation to transactions considered by us in these two appeals. These two appeals are accordingly allowed.