https://www.taxtmi.com/caselaws?id=242273 The court dismissed the appeal, upholding the decision to disallow the claim of short term capital loss from speculative transactions of stock options. It ruled that the provisions of Section 43(5)(d) were not applicable for the relevant assessment year and that the claim for short term capital loss under Section 94(7)(b) was rightly declined. The court interpreted the three-month period under Section 94(7) to expire on the date of sale, in line with legal definitions and judicial precedents, supporting the revenue authorities' decision. en-us Thu, 24 Oct 2013 00:00:00 +0530 Sat, 11 Jan 2014 05:31:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242273 The court dismissed the appeal, upholding the decision to disallow the claim of short term capital loss from speculative transactions of stock options. It ruled that the provisions of Section 43(5)(d) were not applicable for the relevant assessment year and that the claim for short term capital loss under Section 94(7)(b) was rightly declined. The court interpreted the three-month period under Section 94(7) to expire on the date of sale, in line with legal definitions and judicial precedents, supporting the revenue authorities' decision. Case-Laws Income Tax Thu, 24 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242273