https://www.taxtmi.com/caselaws?id=203265 The court held that losses from share transactions by the assessee company were to be treated as speculation losses under the Explanation to Section 73 of the Income Tax Act. It emphasized that the statutory fiction introduced by the Explanation is limited to its intended purpose and should not be extended beyond that scope. The court confirmed the decisions of the revenue authorities and the Tribunal, dismissing the appeal and highlighting the importance of interpreting statutory provisions strictly without deviating from their intended purpose. en-us Tue, 05 Oct 2010 00:00:00 +0530 Sat, 15 Dec 2012 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203265 The court held that losses from share transactions by the assessee company were to be treated as speculation losses under the Explanation to Section 73 of the Income Tax Act. It emphasized that the statutory fiction introduced by the Explanation is limited to its intended purpose and should not be extended beyond that scope. The court confirmed the decisions of the revenue authorities and the Tribunal, dismissing the appeal and highlighting the importance of interpreting statutory provisions strictly without deviating from their intended purpose. Case-Laws Income Tax Tue, 05 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203265