https://www.taxtmi.com/caselaws?id=175758 The Tribunal held that the loss incurred by the assessee on purchase and sale of shares should be treated as regular business loss, not speculation loss, and adjusted against other income under Section 73 of the Income Tax Act. The Tribunal concluded that the explanation to Section 73 does not apply in this case, allowing the appeal. The explanation to Section 73 deems companies carrying out share transactions as speculation business, but as the assessee's income did not fall under specified types, the loss was considered regular business loss. The Tribunal's decision was upheld, and the appeal was dismissed. en-us Tue, 29 Jan 2008 00:00:00 +0530 Fri, 04 Dec 2015 15:07:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175758 The Tribunal held that the loss incurred by the assessee on purchase and sale of shares should be treated as regular business loss, not speculation loss, and adjusted against other income under Section 73 of the Income Tax Act. The Tribunal concluded that the explanation to Section 73 does not apply in this case, allowing the appeal. The explanation to Section 73 deems companies carrying out share transactions as speculation business, but as the assessee's income did not fall under specified types, the loss was considered regular business loss. The Tribunal's decision was upheld, and the appeal was dismissed. Case-Laws Income Tax Tue, 29 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175758