https://www.taxtmi.com/caselaws?id=325408 The court ruled in favor of the appellant, determining that the short-term capital loss on the sale of shares should not be treated as a speculative loss under the Explanation to Section 73 of the Income Tax Act. The court held that the appellant's primary business was the manufacture and sale of yarn, and the share transactions were not systematic or intended for speculation. As the transactions involved actual delivery and were not periodic, they did not fall within the definition of speculative transactions under Section 43(5). The court allowed the appeal, setting aside the order of the Income Tax Appellate Tribunal. en-us Fri, 29 Jan 2016 00:00:00 +0530 Fri, 18 Mar 2016 08:11:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325408 The court ruled in favor of the appellant, determining that the short-term capital loss on the sale of shares should not be treated as a speculative loss under the Explanation to Section 73 of the Income Tax Act. The court held that the appellant's primary business was the manufacture and sale of yarn, and the share transactions were not systematic or intended for speculation. As the transactions involved actual delivery and were not periodic, they did not fall within the definition of speculative transactions under Section 43(5). The court allowed the appeal, setting aside the order of the Income Tax Appellate Tribunal. Case-Laws Income Tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325408