https://www.taxtmi.com/caselaws?id=254465 The court upheld the disallowance of a loss in share transactions as speculative transactions under section 43(5) of the Income Tax Act, 1961. It determined that a single transaction of purchase of shares carried forward over multiple settlement dates constituted a speculation business, resulting in the loss being classified as a business loss in speculation business. The appeals were dismissed, favoring the revenue over the assessee based on the distinction between speculative and hedging transactions as established by legal precedents. en-us Tue, 16 Dec 2014 00:00:00 +0530 Tue, 23 Dec 2014 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254465 The court upheld the disallowance of a loss in share transactions as speculative transactions under section 43(5) of the Income Tax Act, 1961. It determined that a single transaction of purchase of shares carried forward over multiple settlement dates constituted a speculation business, resulting in the loss being classified as a business loss in speculation business. The appeals were dismissed, favoring the revenue over the assessee based on the distinction between speculative and hedging transactions as established by legal precedents. Case-Laws Income Tax Tue, 16 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254465