https://www.taxtmi.com/caselaws?id=343179 The Tribunal allowed the assessee's appeal, holding that the transactions were genuine and not speculative. The disallowance of short-term capital loss amounting to Rs. 4,88,90,050 was overturned as the main income of the assessee was from capital gains, not business, making Section 73 inapplicable. The Tribunal directed the Assessing Officer to permit the carry-forward of the short-term capital loss. en-us Thu, 18 May 2017 00:00:00 +0530 Sat, 20 May 2017 09:03:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343179 The Tribunal allowed the assessee's appeal, holding that the transactions were genuine and not speculative. The disallowance of short-term capital loss amounting to Rs. 4,88,90,050 was overturned as the main income of the assessee was from capital gains, not business, making Section 73 inapplicable. The Tribunal directed the Assessing Officer to permit the carry-forward of the short-term capital loss. Case-Laws Income Tax Thu, 18 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343179