https://www.taxtmi.com/caselaws?id=78022 The Income Tax Appellate Tribunal (ITAT) upheld the decision of the CIT (Appeals) that the principal business of the assessee was money lending, allowing for the adjustment of losses from share transactions against other income. The ITAT's ruling was supported by the company's amended objects, approval from the Reserve Bank of India, and financial details, demonstrating that money lending constituted the primary business activity. The ITAT's decision was deemed well-founded on factual and legal analysis, leading to the dismissal of the appeal. en-us Thu, 26 Aug 2010 00:00:00 +0530 Wed, 27 Oct 2010 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78022 The Income Tax Appellate Tribunal (ITAT) upheld the decision of the CIT (Appeals) that the principal business of the assessee was money lending, allowing for the adjustment of losses from share transactions against other income. The ITAT's ruling was supported by the company's amended objects, approval from the Reserve Bank of India, and financial details, demonstrating that money lending constituted the primary business activity. The ITAT's decision was deemed well-founded on factual and legal analysis, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 26 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78022