https://www.taxtmi.com/caselaws?id=267368 The Tribunal upheld the classification of business loss as speculative, following precedent. The disallowance of sub-brokerage was partly allowed due to provided confirmations and subsequent tax treatment. Disallowance under Section 40A(2)(b) was deleted as payments were found genuine and not excessive. The disallowance of interest was overturned based on the ordinary course of business and the availability of own funds. The Tribunal's detailed reasoning led to a partial allowance of the appeals, with the order pronounced on September 30, 2015. en-us Mon, 28 Sep 2015 00:00:00 +0530 Tue, 15 Dec 2015 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267368 The Tribunal upheld the classification of business loss as speculative, following precedent. The disallowance of sub-brokerage was partly allowed due to provided confirmations and subsequent tax treatment. Disallowance under Section 40A(2)(b) was deleted as payments were found genuine and not excessive. The disallowance of interest was overturned based on the ordinary course of business and the availability of own funds. The Tribunal's detailed reasoning led to a partial allowance of the appeals, with the order pronounced on September 30, 2015. Case-Laws Income Tax Mon, 28 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267368