https://www.taxtmi.com/caselaws?id=66951 The High Court upheld the Tribunal's decision that the transaction was not speculative, allowing the assessee to claim the loss as a business loss. The Tribunal's ruling to recompute the income by permitting the set-off of the loss against the business income for the relevant assessment year was affirmed. The Department's challenge was dismissed, and the addition sustained was deleted, resulting in the appeal by the assessee being allowed. en-us Tue, 16 Jun 1981 00:00:00 +0530 Tue, 08 Mar 2011 13:02:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66951 The High Court upheld the Tribunal's decision that the transaction was not speculative, allowing the assessee to claim the loss as a business loss. The Tribunal's ruling to recompute the income by permitting the set-off of the loss against the business income for the relevant assessment year was affirmed. The Department's challenge was dismissed, and the addition sustained was deleted, resulting in the appeal by the assessee being allowed. Case-Laws Income Tax Tue, 16 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66951