https://www.taxtmi.com/caselaws?id=327288 The High Court upheld the deletion of speculation loss addition for Assessment Year 2004-05, relying on the Apollo Tyres Ltd. decision. It concluded that dealing in units of mutual funds and bonds does not equate to dealing in shares, dismissing the Revenue's appeal challenging the deletion of speculation loss. The Court emphasized that units are not considered shares under the Income Tax Act, distinguishing them from derivatives based on shares. The decision affirmed that the issue was settled in favor of the respondent, leading to the dismissal of the appeal without presenting any substantial legal issue. en-us Mon, 25 Apr 2016 00:00:00 +0530 Thu, 01 Sep 2016 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327288 The High Court upheld the deletion of speculation loss addition for Assessment Year 2004-05, relying on the Apollo Tyres Ltd. decision. It concluded that dealing in units of mutual funds and bonds does not equate to dealing in shares, dismissing the Revenue's appeal challenging the deletion of speculation loss. The Court emphasized that units are not considered shares under the Income Tax Act, distinguishing them from derivatives based on shares. The decision affirmed that the issue was settled in favor of the respondent, leading to the dismissal of the appeal without presenting any substantial legal issue. Case-Laws Income Tax Mon, 25 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327288