https://www.taxtmi.com/caselaws?id=120014 The Tribunal allowed the appeal in part, reversing lower authorities' decisions and permitting the set-off of a genuine loss of Rs. 10,93,465 from share transactions against interest income. The Tribunal found the share transactions to be legitimate, conducted through a recognized broker, and concluded that the loss was incurred in the relevant assessment year. The Tribunal determined that the loss was not speculative under the Explanation to section 73 of the Act, as the assessee's principal business involved granting loans and advances, allowing for the set-off of the share loss against interest income. en-us Tue, 22 Aug 2006 00:00:00 +0530 Mon, 16 Jul 2012 12:40:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120014 The Tribunal allowed the appeal in part, reversing lower authorities' decisions and permitting the set-off of a genuine loss of Rs. 10,93,465 from share transactions against interest income. The Tribunal found the share transactions to be legitimate, conducted through a recognized broker, and concluded that the loss was incurred in the relevant assessment year. The Tribunal determined that the loss was not speculative under the Explanation to section 73 of the Act, as the assessee's principal business involved granting loans and advances, allowing for the set-off of the share loss against interest income. Case-Laws Income Tax Tue, 22 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120014