https://www.taxtmi.com/caselaws?id=175757 The Tribunal held that the loss incurred by the assessee in the purchase and sale of shares should be treated as regular business loss, not speculation loss, and adjusted against other income u/s.70 & 71 of the I.T. Act. The Tribunal also concluded that the loss incurred in dealing in shares did not fall under the explanation to Section 73 of the I.T. Act, leading to the dismissal of the Appeal. The judgment provided clarity on the treatment of losses in share transactions and the application of specific provisions under the Income Tax Act regarding speculation and regular business losses for tax purposes. en-us Tue, 29 Jan 2008 00:00:00 +0530 Fri, 04 Dec 2015 15:02:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175757 The Tribunal held that the loss incurred by the assessee in the purchase and sale of shares should be treated as regular business loss, not speculation loss, and adjusted against other income u/s.70 & 71 of the I.T. Act. The Tribunal also concluded that the loss incurred in dealing in shares did not fall under the explanation to Section 73 of the I.T. Act, leading to the dismissal of the Appeal. The judgment provided clarity on the treatment of losses in share transactions and the application of specific provisions under the Income Tax Act regarding speculation and regular business losses for tax purposes. Case-Laws Income Tax Tue, 29 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175757