https://www.taxtmi.com/caselaws?id=189510 The ITAT held that the amendment in 2014 to Explanation to Section 73 was clarificatory and retrospective, allowing companies primarily engaged in share trading to treat losses as normal business losses, not speculation losses. The decision supported the assessee's position, emphasizing legislative intent to alleviate taxpayer hardships. The judgment underscores the importance of interpreting tax laws in line with legislative changes to provide relief and ensure fair application of tax provisions. en-us Wed, 22 Jun 2016 00:00:00 +0530 Wed, 11 Jan 2017 16:08:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189510 The ITAT held that the amendment in 2014 to Explanation to Section 73 was clarificatory and retrospective, allowing companies primarily engaged in share trading to treat losses as normal business losses, not speculation losses. The decision supported the assessee's position, emphasizing legislative intent to alleviate taxpayer hardships. The judgment underscores the importance of interpreting tax laws in line with legislative changes to provide relief and ensure fair application of tax provisions. Case-Laws Income Tax Wed, 22 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189510