https://www.taxtmi.com/caselaws?id=71975 For the assessment year 2000-01, the Tribunal ruled in favor of the assessee, directing the Assessing Officer not to treat the loss on the sale of shares as speculation loss under Explanation to Section 73. In the assessment year 2001-02, the Tribunal remanded the matter to the AO to verify the sale of shares and reassess the applicability of Explanation to Section 73 based on the verification outcome. The determination of long-term capital loss on the sale of shares was subject to verification of actual sale for the latter assessment year. en-us Fri, 04 Apr 2008 00:00:00 +0530 Thu, 28 Apr 2011 14:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71975 For the assessment year 2000-01, the Tribunal ruled in favor of the assessee, directing the Assessing Officer not to treat the loss on the sale of shares as speculation loss under Explanation to Section 73. In the assessment year 2001-02, the Tribunal remanded the matter to the AO to verify the sale of shares and reassess the applicability of Explanation to Section 73 based on the verification outcome. The determination of long-term capital loss on the sale of shares was subject to verification of actual sale for the latter assessment year. Case-Laws Income Tax Fri, 04 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71975