Dismissing the appeal of the revenue the Court held that; the  assessee had entered into  only two transactions  i.e. first was sale of shares of CPPL received from his father as a gift who held these shares as investment and in second transaction he bought shares of HCL Technologies, which he sold and incurred loss.   Accordingly the Tribunal was justified in allowing the set of off loss from one transaction against gain from second transaction. (AY.2007 -08)