1971 (7) TMI 7

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....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 dealing in shares. It is also establishe....