https://www.taxtmi.com/caselaws?id=66588 The Tribunal upheld the revenue authorities' decision, confirming the loss of Rs. 7,42,502 as a speculation loss under the Explanation to section 73 of the Income-tax Act, 1961. The appellant's claim that the loss should be treated as a trading loss was dismissed. The Tribunal emphasized that the nature of the transactions was speculative regardless of physical delivery of shares. The appeal was dismissed, and the loss was to be set off and carried forward according to the provisions for speculation business. en-us Tue, 24 Jul 2001 00:00:00 +0530 Fri, 04 Mar 2011 18:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66588 The Tribunal upheld the revenue authorities' decision, confirming the loss of Rs. 7,42,502 as a speculation loss under the Explanation to section 73 of the Income-tax Act, 1961. The appellant's claim that the loss should be treated as a trading loss was dismissed. The Tribunal emphasized that the nature of the transactions was speculative regardless of physical delivery of shares. The appeal was dismissed, and the loss was to be set off and carried forward according to the provisions for speculation business. Case-Laws Income Tax Tue, 24 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66588