AO shall not disallow business loss incurred in share transactions without verifying documents: ITAT [Read Order]

AO - disallow business loss - share transactions - documents-ITAT-TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, held that the Assessing Officer should not disallow business loss incurred in share transactions without verifying the documents. The assessee, Suprinit Tradinvest Pvt. Ltd., is engaged in the business of trading in shares and securities. After filing the return of income, the assessee’s case was selected for…

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