https://www.taxtmi.com/caselaws?id=155043 The Appellate Tribunal ITAT Chennai confirmed the decision of the Commissioner of Income-tax (Appeals) in a case involving the treatment of a loss from share transactions. The Tribunal held that the transactions were not speculative as claimed by the Revenue, allowing the set off of the loss against other heads of income. Both the appeal of the Revenue and the cross-objection of the assessee were dismissed, upholding the eligibility of the transactions for set off under the Income-tax Act. en-us Wed, 01 Feb 2012 00:00:00 +0530 Sat, 31 Aug 2013 11:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155043 The Appellate Tribunal ITAT Chennai confirmed the decision of the Commissioner of Income-tax (Appeals) in a case involving the treatment of a loss from share transactions. The Tribunal held that the transactions were not speculative as claimed by the Revenue, allowing the set off of the loss against other heads of income. Both the appeal of the Revenue and the cross-objection of the assessee were dismissed, upholding the eligibility of the transactions for set off under the Income-tax Act. Case-Laws Income Tax Wed, 01 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155043