https://www.taxtmi.com/caselaws?id=780566 ITAT (MUMBAI) allowed the appeal, holding that the assessee's short-term capital loss of Rs. 2,94,99,567 on trading in shares of the renamed company was genuine and not an alleged adjustment entry. The tribunal found the assessee had an established history of investment and trading in securities, earned profits in F&O, and submitted supporting documents which the AO failed to analyze. Accordingly, the loss could be treated as genuine and set off against short-term capital gains; additions by the AO were deleted. en-us Mon, 13 Oct 2025 00:00:00 +0530 Sat, 01 Nov 2025 08:17:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780566 ITAT (MUMBAI) allowed the appeal, holding that the assessee's short-term capital loss of Rs. 2,94,99,567 on trading in shares of the renamed company was genuine and not an alleged adjustment entry. The tribunal found the assessee had an established history of investment and trading in securities, earned profits in F&O, and submitted supporting documents which the AO failed to analyze. Accordingly, the loss could be treated as genuine and set off against short-term capital gains; additions by the AO were deleted. Case-Laws Income Tax Mon, 13 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780566