Exp. to S. 73 would apply even when entire business consists of purchase & sale of shares

 ITAT MUMBAI BENCH ‘G’ Deputy Commissioner of Income-tax, Range – 3(3), Mumbai Versus Savlani Trading & Investments Co. (P.) Ltd. IT APPEAL NO. 2343 (MUM.) OF 2005 [ASSESSMENT YEAR 2001-02] DECEMBER 14, 2012 ORDER Rajendra Singh, Accountant Member This appeal by the revenue is directed against the order dated 9.12.2004 of CIT(A) for the assessment year 2001-02. The revenue has challenged the decision of CIT(A) treating the share trading loss of Rs. 3.25 crores as normal business loss and allowing expenses relating thereto of Rs. 31,12,030/- which had bee...