2014 (10) TMI 36

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....nging the order of the Income-tax Appellate Tribunal (hereinafter referred to as 'the Tribunal') dated November 29, 2013, the Revenue has preferred the present Tax Appeal, raising the following question of law: "Whether the Appellate Tribunal is right in law and on facts, in confirming the decision of the Commissioner (Appeals) for allowing the loss on trading of Future & Options of Rs.....

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....end, the Assessing Officer disallowed the loss on trading of F&O. Thus, there was absence of any reasons while disallowing such loss. 3. When the matter travelled to the Commissioner (Appeals), it noted that there was no reason for rejection of claim for loss of F&O transaction and that was not justifiable. Accordingly, the said disallowance was deleted. When the matter travelled to the Tribuna....