https://www.taxtmi.com/caselaws?id=186517 The Tribunal dismissed the Revenue's appeal and affirmed the Ld. Commissioner's order regarding the classification of the loss from share transactions and the applicability of the Explanation to Section 73 of the Income Tax Act. The Tribunal held that the loss from share trading by the assessee, a non-banking finance company primarily engaged in granting loans, should be treated as a business loss and not speculation loss. The decision emphasized the importance of consistency in assessing such cases and highlighted that the nature of the assessee's activities determines the applicability of the exceptions in the Explanation to Section 73. en-us Wed, 15 Jun 2011 00:00:00 +0530 Wed, 21 Sep 2016 12:35:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186517 The Tribunal dismissed the Revenue's appeal and affirmed the Ld. Commissioner's order regarding the classification of the loss from share transactions and the applicability of the Explanation to Section 73 of the Income Tax Act. The Tribunal held that the loss from share trading by the assessee, a non-banking finance company primarily engaged in granting loans, should be treated as a business loss and not speculation loss. The decision emphasized the importance of consistency in assessing such cases and highlighted that the nature of the assessee's activities determines the applicability of the exceptions in the Explanation to Section 73. Case-Laws Income Tax Wed, 15 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186517