https://www.taxtmi.com/caselaws?id=121379 The Tribunal upheld the classification of mutual fund losses as short-term capital losses and treated share trading gains as speculative business income. Set-off of business losses against speculative gains was not allowed. The disallowance of expenses payable to Mahan Enterprises Ltd. was upheld but remanded for further examination. Interest under sections 234B and 234C was confirmed as consequential. en-us Fri, 05 Jun 2009 00:00:00 +0530 Mon, 30 Jul 2012 13:06:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121379 The Tribunal upheld the classification of mutual fund losses as short-term capital losses and treated share trading gains as speculative business income. Set-off of business losses against speculative gains was not allowed. The disallowance of expenses payable to Mahan Enterprises Ltd. was upheld but remanded for further examination. Interest under sections 234B and 234C was confirmed as consequential. Case-Laws Income Tax Fri, 05 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121379