1971 (7) TMI 7

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....he Commissioner of Income-tax, Bihar & Orissa, against the same assessee, namely, Dalmia Jain & Co. Ltd. The point that arises for decision in these appeals is whether the loss incurred by the assessee in the sale of some shares held by it is a trading loss or a capital loss. There is no dispute that the assessee did incur loss by the sale of those shares. It is established that the assessee was d....