TMI Blog2011 (1) TMI 1108X X X X Extracts X X X X X X X X Extracts X X X X ..... s is a business loss, assessee has no opening stock or closing stock of any shares and so much so, they were treating it as purchase and sales without retaining the asset for any appreciable period. order of the Tribunal upheld to treat it as business transaction and dismiss the departmental appeal. - ITA.No. 17 of 2010 - - - Dated:- 6-1-2011 - MR. Justice C.N.RAMACHANDRAN NAIR, MR. Justice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usiness loss. In this year also, the position is not different in as much as the assessee set off loss in stock trading against business income treating it as a business loss. Admittedly assessee has no opening stock or closing stock of any shares and so much so, they were treating it as purchase and sales without retaining the asset for any appreciable period. Consequently we uphold the order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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