https://www.taxtmi.com/caselaws?id=213718 The High Court upheld the Tribunal's findings that the assessee's principal business was granting loans and advances, qualifying for the exclusionary clause in Explanation to Section 73 of the Income Tax Act. Consequently, losses from share transactions were not considered speculation losses and could be set off against other income. The appeals were dismissed in favor of the assessee. en-us Wed, 30 May 2012 00:00:00 +0530 Fri, 01 Jun 2012 13:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213718 The High Court upheld the Tribunal's findings that the assessee's principal business was granting loans and advances, qualifying for the exclusionary clause in Explanation to Section 73 of the Income Tax Act. Consequently, losses from share transactions were not considered speculation losses and could be set off against other income. The appeals were dismissed in favor of the assessee. Case-Laws Income Tax Wed, 30 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213718