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<h1>Court upholds categorization of share sale loss as trading loss, dismissing tax commissioner's appeal</h1> <h3>Commissioner of Income-Tax, Bihar And Orissa Versus Dalmia Jain And Company Limited</h3> Commissioner of Income-Tax, Bihar And Orissa Versus Dalmia Jain And Company Limited - [1972] 83 ITR 438 (SC) The Supreme Court dismissed the appeals by the Commissioner of Income-tax, Bihar & Orissa against Dalmia Jain & Co. Ltd. The issue was whether the loss from the sale of shares was a trading loss or a capital loss. Both the Tribunal and the High Court concluded it was a trading loss. The Court found no grounds for interference and upheld the decision.