Business Loss Disallowance for Share Trading Entity Overturned Due to Insufficient Evidence of Alleged Bogus Transactions.

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....Disallowing business loss - business of trading in shares and securities - As pr AO assessee was directly involved in sham and bogus transactions of entry providers - Though AO has given the chart of fluctuation as well as increase of the data during the said period, the same cannot be the sufficient reason for disallowing the business loss of the assessee. - AT....