TMI Blog2021 (6) TMI 457X X X X Extracts X X X X X X X X Extracts X X X X ..... to the year under consideration also in view of identical facts, except with variance in figures. Hence we do not find any infirmity in the said order. Accordingly, the grounds raised by the Revenue are dismissed. - ITA No. 4595/Mum/2019 - - - Dated:- 11-6-2021 - SHRI MAHAVIR SINGH, VICE PRESIDENT And SHRI M.BALAGANESH, ACCOUNTANT MEMBER Revenue by : Shri T.S. Khalsa Revenue by : Ms. Mitali Gopani ORDER PER M. BALAGANESH (A.M): This appeal in ITA No.4595/Mum/2019 for A.Y.2012-13 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-3, Mumbai in appeal No.CIT(A)-3/IT-10122/2018-19 dated 30/04/2019 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Grounds of appeal on or before the hearing of this appeal. 3. We have heard rival submissions and perused the materials available on record. We find identical grounds were adjudicated by this Tribunal in assessee s own case in ITA No.4657/Mum/2017 for A.Y.2013-14 dated 18/01/2018. Both the parties mutually agreed that there is no change in facts and circumstances of the instant case for this assessment year when compared to the facts prevailing in A.Y.2013-14. The facts of the assessment year 2013-14 together with the decision rendered thereon are reproduced hereunder for the sake of convenience:- 3. Rival contentions have been heard and record perused. 4. Facts in brief are that assessee is engaged in the business of inves ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct')/ was applicable to the transactions in foreign currency futures entered into by the appellant and therefore that the loss from these transactions was not in the nature of speculation loss. 7. The Tribunal decided the issue as under:- considering the relevant provisions of the relevant Acts, discussed here-in-above in the light of the hon'ble Madras High Court and the answers given to frequently asked questions by the Securities and Exchange Board India and the incorporation of exchange traded currency derivative from August, 2008, there remain no iota of doubt that the transaction of the assessee cannot be treated as speculative transaction. We have also gone through the copies of the contract notes incorporated i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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