https://www.taxtmi.com/caselaws?id=349576 The Court upheld the Income Tax Appellate Tribunal's decision allowing the set off of non-speculative business losses against speculative business profits for the assessment year 2005-2006. The Tribunal's analysis considered the differentiation between speculative and non-speculative businesses, emphasizing limitations on setting off speculative losses against profits from other businesses. The Court dismissed the Department's appeal, affirming the Tribunal's decision and providing clarity on the interpretation of provisions governing the set off of losses in various types of businesses. en-us Wed, 11 Oct 2017 00:00:00 +0530 Wed, 10 Jan 2018 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349576 The Court upheld the Income Tax Appellate Tribunal's decision allowing the set off of non-speculative business losses against speculative business profits for the assessment year 2005-2006. The Tribunal's analysis considered the differentiation between speculative and non-speculative businesses, emphasizing limitations on setting off speculative losses against profits from other businesses. The Court dismissed the Department's appeal, affirming the Tribunal's decision and providing clarity on the interpretation of provisions governing the set off of losses in various types of businesses. Case-Laws Income Tax Wed, 11 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349576