"During the assessment year 2012-13, your appellant Company has earned
the following Taxable Income:
Under the head of Amount (Rs.)
Loss from business 2,445/-
Short Term Capital Loss (STT Paid) 63,27,004/-
Long Term Capital Loss (STT Paid) 1,14,46,874/-
Dividend Income (Exempted) 12,52,106/-
Your appellant Company has consistently, year after year, shown the
transactions relating to purchase/sale of shares, Mutual Funds etc as
investment in its books of accounts. During the year, your Appellant has
entered in to a very few delivery based transactions of purchase & sale of
few shares. It will kindly be appreciated that all the transactions were
delivery based only and there was no intraday, future & options
transaction made by your appellant. During the year, your appellant has
suffered long term capital loss of 114,46,874/- (STT Paid). Appellant has
however, claimed Short Term Capital Loss of Rs. 63,27,004/- to be allowed
to carry forward in subsequent years for set off against taxable income in
that years.
