Assessee-company was NBFC engaged in business of purchase and sale of shares . In relevant assessment year there was no change in business Assessee claimed set off of losses of earlier two years against profit of relevant assessment year . AO allowed  set off of loss in accordance with Explanation to section 73 as per which, business of assessee-company was deemed to be a speculative business.  However, thereafter, the AO passed order under S.  154 holding that brought forward losses of earlier years were speculative loss which could not be set off against business income of relevant assessment year. CIT (A) confirmed the order of the AO. On appeal  the Appellate Tribunal held that when business of assessee in relevant assessment year remained same as that in earlier two years, brought forward losses had correctly been set off against speculative business income for year under consideration and there was no mistake apparent from record in assessment order. ( AY. 2010 -11)