https://www.taxtmi.com/caselaws?id=64469 The Court held that the loss of Rs. 2,00,287 on the sale of shares should be treated as a capital loss and not a business loss. The Commissioner of Income-tax (Appeals) directed the assessing officer to allow the loss as a revenue loss, but the Court disagreed, finding that there was no business expediency in purchasing the shares and no direct nexus between the purchase of shares and the increase in business profits. The Court concluded that the loss incurred on the sale of shares was to be treated as a capital loss, not a business loss. en-us Fri, 28 Dec 1990 00:00:00 +0530 Tue, 08 Feb 2011 10:53:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64469 The Court held that the loss of Rs. 2,00,287 on the sale of shares should be treated as a capital loss and not a business loss. The Commissioner of Income-tax (Appeals) directed the assessing officer to allow the loss as a revenue loss, but the Court disagreed, finding that there was no business expediency in purchasing the shares and no direct nexus between the purchase of shares and the increase in business profits. The Court concluded that the loss incurred on the sale of shares was to be treated as a capital loss, not a business loss. Case-Laws Income Tax Fri, 28 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64469