https://www.taxtmi.com/caselaws?id=58527 The Appellate Tribunal upheld the CIT's decision to allow the assessee's claim of suffering a notional loss of Rs. 47,40,000 and directed the Assessing Officer to accept the same. The Tribunal determined that the cost of the rights could be ascertained, leading to a net short-term capital loss of Rs. 23,64,770 after setting off the notional loss against the capital gains. The Department's appeal was dismissed, affirming the CIT's decision. The assessee's appeal under section 263 became moot following the dismissal of the Department's appeal, with the Tribunal treating it as dismissed for statistical purposes. en-us Fri, 20 Aug 1993 00:00:00 +0530 Mon, 20 Dec 2010 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58527 The Appellate Tribunal upheld the CIT's decision to allow the assessee's claim of suffering a notional loss of Rs. 47,40,000 and directed the Assessing Officer to accept the same. The Tribunal determined that the cost of the rights could be ascertained, leading to a net short-term capital loss of Rs. 23,64,770 after setting off the notional loss against the capital gains. The Department's appeal was dismissed, affirming the CIT's decision. The assessee's appeal under section 263 became moot following the dismissal of the Department's appeal, with the Tribunal treating it as dismissed for statistical purposes. Case-Laws Income Tax Fri, 20 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58527