Rectification of mistake u/s 154 - Disallowing Derivatives F & O loss and Speculation profit - The...

Rectification of mistake u/s 154 - Disallowing Derivatives F & O loss and Speculation profit - The appellant sought to claim a deduction by way of a letter before the Assessing Officer. The deduction was disallowed by the Assessing Officer on the ground that there was no provision under the Income-tax Act to make amendment in the return of income by filing an application at the assessment stage without revising the return. - Action of AO confirmed - AT .....

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