2006 (12) TMI 528

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.... against the order of the learned CIT(A)-IV, Mumbai dated 16-08-2004 in the case of the assessee in relation to assessment order u/s 143(3) for assessment year 2001-02. 2. Grounds of appeal No.1 to 5 in this appeal are directed against the impugned order confirming the disallowance of loss of ₹ 9,17,87,308 on purchase and sale of units of mutual funds claimed by the assessee. During the cou....

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.... opinion, between the judgments of Hon'ble Delhi High Court and Punjab and Haryana High Court as mentioned above, Special Bench of ITAT supports the case of the assessee. Under these circumstances, respectfully following the decision of ITAT Special Bench (supra) and the judgment of Hon'ble Delhi High Court (supra) we allow assessee's grounds of appeal No.1 to 5 and direct the assessin....