ASSTT CIT Vs. ACROPOLISH INVESTMENTS LTD

JUDGEMENT

(1.) ALL these tax appeals are taken together as in each of the tax appeals following three identically worded questions have been formulated at the time of admission on 20. 09. 2000:

(2.) WHETHER the Appellate Tribunal is right in law and on facts in holding that the assessee was entitled to short term capital loss?

(3.) WHETHER the Appellate Tribunal is right in law and on facts in holding that the Assessing Officer was not justified in determining the short term capital gain relating to the transaction of sale of right of fully convertible debentures in relation to which the assessee claimed loss?