2013 (12) TMI 1211

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..... JUDGEMENT :- 1. The following substantial question of law was framed at the time of admission of this appeal: -    "Whether the Tribunal was justified in its interpretation of the explanation to Section 73 of the Income-tax Act 1961." 2. The assessee in the present case at the relevant time was engaged in the business of trading of crafts paper, installation, job work, consultancy an .....

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..... ess. The Appellate Commissioner dismissed the assessee's appeal and the matter was carried in further appeal to the ITAT which accepted the assessee's appeal. 3. Mr. Sanjeev Sabharwal, Sr. Standing Counsel for the Revenue urges that the transaction in question was a speculative one falling within the Explanation to Section 73 (4). He placed reliance upon the decision of Madhya Pradesh High Court .....

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