The Commissioner of Income Tax-II, vs. M/S Gulf Oil Corporation Pvt. Ltd.,
ITTA/195/2008HC Telangana23 Mar 2016
Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY
bogus loss, it is
a speculative one.
13. It has been observed by the Assessing Officer
that the sale of shares appeared to be effected
without taking actual delivery. In Short, when the
shares were stated to have been sold i.e. the date
of selling, the assessee was not in possession of
these shares. But once a person is accepted
