https://www.taxtmi.com/caselaws?id=214132 The High Court upheld the decisions of the Appellate Authorities in favor of the assessee on both issues. The Court ruled that the loss from share transactions should be treated as a business loss, not speculation loss, as the shares were held as stock-in-trade. Additionally, the Court held that interest income on non-performing assets is not taxable until actually received, based on the principles of the mercantile accounting system and the non-performing nature of the assets. en-us Mon, 12 Mar 2012 00:00:00 +0530 Thu, 14 Jun 2012 13:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214132 The High Court upheld the decisions of the Appellate Authorities in favor of the assessee on both issues. The Court ruled that the loss from share transactions should be treated as a business loss, not speculation loss, as the shares were held as stock-in-trade. Additionally, the Court held that interest income on non-performing assets is not taxable until actually received, based on the principles of the mercantile accounting system and the non-performing nature of the assets. Case-Laws Income Tax Mon, 12 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214132