https://www.taxtmi.com/caselaws?id=268452 The ITAT upheld the CIT (A)'s decision allowing the set off of loss in share dealing against income from brokerage and commission, citing the exception in Explanation to Section 73. The ITAT found the CIT (A)'s decision in line with the judgment of the Hon'ble Allahabad High Court. Regarding the ad hoc disallowance of expenses by the AO, later modified by the CIT (A, the ITAT deemed the CIT (A)'s modification reasonable compared to the AO's excessive estimation. Consequently, the ITAT dismissed the revenue's appeal and the assessee's C.O., affirming the decisions of the CIT (A) in the case. en-us Fri, 11 Sep 2015 00:00:00 +0530 Mon, 23 Nov 2015 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268452 The ITAT upheld the CIT (A)'s decision allowing the set off of loss in share dealing against income from brokerage and commission, citing the exception in Explanation to Section 73. The ITAT found the CIT (A)'s decision in line with the judgment of the Hon'ble Allahabad High Court. Regarding the ad hoc disallowance of expenses by the AO, later modified by the CIT (A, the ITAT deemed the CIT (A)'s modification reasonable compared to the AO's excessive estimation. Consequently, the ITAT dismissed the revenue's appeal and the assessee's C.O., affirming the decisions of the CIT (A) in the case. Case-Laws Income Tax Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268452