2007 (9) TMI 291

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....evenue. The relevant assessment year is 2001-02. The appeal is directed against the order of CIT(A)-IV at Mumbai dt. 25th Feb. 2004 and arises out of the assessment completed under s. 143(3) of the IT Act. 1961. 2. The only ground raised in this appeal is that the CIT(A) erred in directing that the loss of Rs. 8,24,568 on account of derivative trading cannot be treated as speculation loss and fai....