https://www.taxtmi.com/caselaws?id=253485 The High Court ruled in favor of the appellant, allowing the trading loss as a business loss and rejecting the bad debt claim. The judgment emphasized legal principles over accounting practices, highlighting the appellant's position as a registered Stock Broker. The Court considered the loss essential for the appellant's role and concluded that it should be treated as a business loss. Consequently, the Tax Appeal was partly allowed in favor of the appellant, rendering the bad debt claim moot. en-us Tue, 14 Oct 2014 00:00:00 +0530 Wed, 26 Nov 2014 06:38:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253485 The High Court ruled in favor of the appellant, allowing the trading loss as a business loss and rejecting the bad debt claim. The judgment emphasized legal principles over accounting practices, highlighting the appellant's position as a registered Stock Broker. The Court considered the loss essential for the appellant's role and concluded that it should be treated as a business loss. Consequently, the Tax Appeal was partly allowed in favor of the appellant, rendering the bad debt claim moot. Case-Laws Income Tax Tue, 14 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253485