https://www.taxtmi.com/caselaws?id=217729 The Tribunal partly allowed the appeals for statistical purposes, directing the re-computation of disallowances under Sections 14A and 36(1)(iii). The Tribunal upheld the treatment of trading losses as speculation losses under Explanation to Section 73 of the Income Tax Act, emphasizing the applicability of the provisions even in the absence of actual purchases and sales during the year. The disallowance of interest expenses related to trading in shares as part of speculation loss was affirmed based on the assessee's principal business activities being trading and investment in shares. en-us Fri, 20 Jul 2012 00:00:00 +0530 Tue, 23 Oct 2012 22:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217729 The Tribunal partly allowed the appeals for statistical purposes, directing the re-computation of disallowances under Sections 14A and 36(1)(iii). The Tribunal upheld the treatment of trading losses as speculation losses under Explanation to Section 73 of the Income Tax Act, emphasizing the applicability of the provisions even in the absence of actual purchases and sales during the year. The disallowance of interest expenses related to trading in shares as part of speculation loss was affirmed based on the assessee's principal business activities being trading and investment in shares. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217729