Taxpayer's Stock Losses Not Speculative: Valuation Method Aligns with Section 73 of Income Tax Act.

Taxpayer's Stock Losses Not Speculative: Valuation Method Aligns with Section 73 of Income Tax Act. https://www.taxtmi.com/highlights?id=34021 Speculation loss u/s.73 - assessee had in the normal course of business purchased the shares - Because of the turmoil in the share market in the year under consideration the assessee suffered huge loss.It was valuing its stock on cost or market price whichever was lower and had accordingly valued the shares - cannot be considered speculative loss - AT en-us Tue, 28 Mar 2017 08:10:45 +0530 Tue, 28 Mar 2017 08:10:45 +0530 TaxTMI RSS Generator Taxpayer's Stock Losses Not Speculative: Valuation Method Aligns with Section 73 of Income Tax Act. https://www.taxtmi.com/highlights?id=34021 Speculation loss u/s.73 - assessee had in the normal course of business purchased the shares - Because of the turmoil in the share market in the year under consideration the assessee suffered huge loss.It was valuing its stock on cost or market price whichever was lower and had accordingly valued the shares - cannot be considered speculative loss - AT Highlights Income Tax Tue, 28 Mar 2017 08:10:45 +0530 https://www.taxtmi.com/highlights?id=34021