Tribunal held that, investment in shares already verified by the AO from various investee companies and no abnormal discrepancy in the transaction is found, the loss arising from the transaction of sale of shares is to be allowed. As the assessee is not engaged in the business trading in shares explanation to S.73 is not applicable. (AY. 2009-10)
ACIT v. R. J. Corp Ltd. (2018) 67 ITR 339 (Delhi)(Trib.)
S. 73 : Losses in speculation business -Loss in investment in shares- Not engaged in business of trading in shares -Explanation to S.73 is not applicable -loss is allowable. [S. 45]