https://www.taxtmi.com/caselaws?id=237366 The Tribunal dismissed both appeals and upheld the CIT(A)'s decision that the share loss should be treated as a business loss, not speculation loss. The expenses apportioned towards speculation loss were set aside, considering them as part of the business expenses. The Tribunal also ruled that the unabsorbed business loss could not be set off against the capital gains computed under section 50 of the Act. Consequently, the department's arguments for treating the share loss as speculation loss and levying interest under section 234B were rejected. en-us Tue, 18 Dec 2012 00:00:00 +0530 Thu, 26 Sep 2013 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237366 The Tribunal dismissed both appeals and upheld the CIT(A)'s decision that the share loss should be treated as a business loss, not speculation loss. The expenses apportioned towards speculation loss were set aside, considering them as part of the business expenses. The Tribunal also ruled that the unabsorbed business loss could not be set off against the capital gains computed under section 50 of the Act. Consequently, the department's arguments for treating the share loss as speculation loss and levying interest under section 234B were rejected. Case-Laws Income Tax Tue, 18 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237366