ITAT quashes Addition by AO towards Business Loss on ground of Absence of Speculation Loss of Share Capital Income [Read Order]

ITAT - Addition - AO - Business Loss - Speculation Loss - Share Capital - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the addition made by the Assessing Officer (AO) towards the business loss on the grounds of the absence of speculation loss of share capital income.  DAM Capital Advisors Limited, the appellant assessee was a company engaged in the business of share broking and was…

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