https://www.taxtmi.com/caselaws?id=62949 The Tribunal ruled in favor of the assessee, allowing the claimed loss of Rs. 1,99,850 on the purchase and sale of shares. It held that the transactions were not speculative under proviso (b) to section 43(5) as they were entered to guard against loss due to price fluctuations. Additionally, the Tribunal found that the assessee's business activities, including the purchase and sale of shares, did not constitute speculative business under section 73, as their principal business aligned with the exceptions in the explanation to section 73. Consequently, the Tribunal allowed the appeal and accepted the loss in the computation of business income. en-us Wed, 10 May 2000 00:00:00 +0530 Tue, 25 Jan 2011 17:50:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62949 The Tribunal ruled in favor of the assessee, allowing the claimed loss of Rs. 1,99,850 on the purchase and sale of shares. It held that the transactions were not speculative under proviso (b) to section 43(5) as they were entered to guard against loss due to price fluctuations. Additionally, the Tribunal found that the assessee's business activities, including the purchase and sale of shares, did not constitute speculative business under section 73, as their principal business aligned with the exceptions in the explanation to section 73. Consequently, the Tribunal allowed the appeal and accepted the loss in the computation of business income. Case-Laws Income Tax Wed, 10 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62949