https://www.taxtmi.com/caselaws?id=203098 The Tribunal quashed the revision order under Section 263 of the Income Tax Act, finding it unsustainable due to discrepancies between the grounds in the show cause notice and the final order. It held that the Commissioner's shifting focus from set-off eligibility to verification of share transactions rendered the revision order legally unsustainable. The Tribunal also affirmed the eligibility of set-off for speculation losses against business profits under Section 73, citing relevant case law. The appeal was allowed, and the Tribunal delivered its decision on 31st March 2011. en-us Thu, 31 Mar 2011 00:00:00 +0530 Sat, 03 Sep 2016 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203098 The Tribunal quashed the revision order under Section 263 of the Income Tax Act, finding it unsustainable due to discrepancies between the grounds in the show cause notice and the final order. It held that the Commissioner's shifting focus from set-off eligibility to verification of share transactions rendered the revision order legally unsustainable. The Tribunal also affirmed the eligibility of set-off for speculation losses against business profits under Section 73, citing relevant case law. The appeal was allowed, and the Tribunal delivered its decision on 31st March 2011. Case-Laws Income Tax Thu, 31 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203098