https://www.taxtmi.com/caselaws?id=346595 The Tribunal upheld the classification of a Rs. 51,00,000/- loss as speculative under Section 43(5) of the Income Tax Act, ruling that it could not be set off against normal business income. The Tribunal also upheld the cancellation of the penalty imposed under Section 271(1)(c), finding that the assessee had not furnished inaccurate particulars of income. en-us Fri, 02 Jun 2017 00:00:00 +0530 Sat, 19 Aug 2017 08:20:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346595 The Tribunal upheld the classification of a Rs. 51,00,000/- loss as speculative under Section 43(5) of the Income Tax Act, ruling that it could not be set off against normal business income. The Tribunal also upheld the cancellation of the penalty imposed under Section 271(1)(c), finding that the assessee had not furnished inaccurate particulars of income. Case-Laws Income Tax Fri, 02 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346595