Assessee's claim for exceptional losses disallowed; clients bear losses from Options Maxima Scheme trades, not the assessee.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of assessee's claim of exceptional losses on account of certain trades - Actually if there is any loss incurred on the said transaction, the same shall have to be borne only by the clients. - Merely because those clients had been sourced or referred by assessee to ABML, the losses of those clients cannot be shifted by ABML to assessee - the loss of clients incurred under Options Maxima Scheme claimed by the assessee in its return is not allowable - AT....