https://www.taxtmi.com/caselaws?id=177951 Claimed losses from speculative transactions were not accepted where the assessee relied on post hoc entries and few vouchers without sauda bahi or yearly broker statements; absence of contemporaneous transactional records prevented reliable verification that all profits and losses were recorded, so isolated vouchers could not establish the speculative source result. The legal principle applied places the onus on the assessee to prove the true state of the speculative business as a whole; factual sufficiency was for tax authorities and the tribunal to decide, and the matter did not present a question of law for reference. en-us Wed, 30 May 1951 00:00:00 +0530 Fri, 22 Jan 2016 15:39:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177951 Claimed losses from speculative transactions were not accepted where the assessee relied on post hoc entries and few vouchers without sauda bahi or yearly broker statements; absence of contemporaneous transactional records prevented reliable verification that all profits and losses were recorded, so isolated vouchers could not establish the speculative source result. The legal principle applied places the onus on the assessee to prove the true state of the speculative business as a whole; factual sufficiency was for tax authorities and the tribunal to decide, and the matter did not present a question of law for reference. Case-Laws Income Tax Wed, 30 May 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177951