Sale of Units Not Classified as 'Buy-Back'; Allegations of Illegality by Assessing Officer Deemed Irrelevant.

Loss on account of sale of units - the instant transactions in units cannot be construed to be ‘buy-back transactions’ because in all the cases the dates of sale are much after the date of respective purchases - the points raised by the AO regarding the illegality in nature of transactions became irrelevant - AT .....

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