https://www.taxtmi.com/caselaws?id=6897 A loss on sale of shares is deductible as a business loss where the shares are held and dealt in the ordinary course of a share-trading business, and not acquired to secure controlling interest or any enduring extra-commercial advantage. The Tribunal's findings that the shares were sold at market price and involved no extra-commercial element were factual findings, and the challenge to them failed because they were neither unsupported by evidence nor perverse. On those facts, the loss was allowable as a business deduction and not a capital loss. en-us Thu, 27 Jan 1966 00:00:00 +0530 Sat, 07 Feb 2009 08:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6897 A loss on sale of shares is deductible as a business loss where the shares are held and dealt in the ordinary course of a share-trading business, and not acquired to secure controlling interest or any enduring extra-commercial advantage. The Tribunal's findings that the shares were sold at market price and involved no extra-commercial element were factual findings, and the challenge to them failed because they were neither unsupported by evidence nor perverse. On those facts, the loss was allowable as a business deduction and not a capital loss. Case-Laws Income Tax Thu, 27 Jan 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6897