https://www.taxtmi.com/caselaws?id=64650 The appeal filed by the Revenue regarding the treatment of loss on the sale of shares as a business loss was partly allowed. The AAC's decision to treat the loss as a business loss was upheld, but the method of calculating the loss was found to be incorrect. The ITO was directed to recalculate the loss in accordance with a Supreme Court judgment. Additionally, the competency of the appeals filed by the Revenue was addressed, with one appeal being considered competent and the other dismissed as infructuous. en-us Fri, 23 May 1980 00:00:00 +0530 Wed, 09 Feb 2011 11:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64650 The appeal filed by the Revenue regarding the treatment of loss on the sale of shares as a business loss was partly allowed. The AAC's decision to treat the loss as a business loss was upheld, but the method of calculating the loss was found to be incorrect. The ITO was directed to recalculate the loss in accordance with a Supreme Court judgment. Additionally, the competency of the appeals filed by the Revenue was addressed, with one appeal being considered competent and the other dismissed as infructuous. Case-Laws Income Tax Fri, 23 May 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64650