Bogus Share Trading Loss Held Speculative, Set-off Denied
CA Vijayakumar Shetty
09 Jan 2026
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Income Tax |
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Judiciary
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Income Tax |
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Judiciary
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Case Law Details
Case Name : Narain Properties Limited Vs ACIT (ITAT Lucknow)
Related Assessment Year : 1997-98
Courts :
All ITAT ITAT Lucknow
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Narain Properties Limited Vs ACIT (ITAT Lucknow)
Share Trading Loss Held Speculative and Bogus — No Set-off Against Interest Income; Assessee’s Appeal Dismissed
The Lucknow Bench of the ITAT dismissed the appeal of Narain Properties Ltd. and upheld the order of the CIT(A) confirming the disallowance of share trading loss of ₹11.03 lakh, holding
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