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2017 (3) TMI 84 - ITAT KOLKATATreatment to loss -‘business loss’ OR ‘capital loss’ - mutual fund transactions - Held that:- The assessee has been showing the transactions from the aforesaid activities as business transaction which were accepted by the Revenue in earlier assessment years. On examination of the order of lower authorities, we find that there was no change in the factual position of the assessee. The assessee has also been showing such transactions as business transactions in its books of accounts. In view of above, we find that the assessee has been showing its mutual fund transactions under the head “business and profession”. There was no change in the stand of the assessee with that of the earlier years. Therefore, we find that the assessee has shown the impugned loss from the source of the business correctly. The ld DR has also not brought anything contrary to the finding of ld CIT(A). In view of above, we are inclined not to interfere in the order of ld CIT(A). Hence this ground of appeal of the Revenue is dismissed.
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