https://www.taxtmi.com/caselaws?id=65007 The Tribunal held that the loss from share transactions was speculative as delivery was effectively recalled, rendering them non-speculative under section 43(5) of the Income Tax Act. Despite the broker's statement confirming delivery, discrepancies led to the conclusion that shares were not effectively transferred to the assessee. Consequently, the Tribunal allowed the revenue's appeal to set off the loss against the assessee's overall business income, reversing the CIT(A)'s decision. en-us Mon, 20 Apr 1998 00:00:00 +0530 Fri, 11 Feb 2011 16:16:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65007 The Tribunal held that the loss from share transactions was speculative as delivery was effectively recalled, rendering them non-speculative under section 43(5) of the Income Tax Act. Despite the broker's statement confirming delivery, discrepancies led to the conclusion that shares were not effectively transferred to the assessee. Consequently, the Tribunal allowed the revenue's appeal to set off the loss against the assessee's overall business income, reversing the CIT(A)'s decision. Case-Laws Income Tax Mon, 20 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65007