https://www.taxtmi.com/caselaws?id=354921 The Tribunal partly allowed the revenue's appeal, emphasizing the correct allocation of administrative expenses for share trading activity and the inapplicability of the Explanation to Section 73 due to the net profit shown by the assessee. The decision highlighted the necessity of reasonable allocation of expenses and proper computation of profit/loss in activities deemed speculative under the Income Tax Act, ultimately setting aside the CIT(A)'s order on the issue. en-us Fri, 22 Dec 2017 00:00:00 +0530 Wed, 07 Feb 2018 08:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354921 The Tribunal partly allowed the revenue's appeal, emphasizing the correct allocation of administrative expenses for share trading activity and the inapplicability of the Explanation to Section 73 due to the net profit shown by the assessee. The decision highlighted the necessity of reasonable allocation of expenses and proper computation of profit/loss in activities deemed speculative under the Income Tax Act, ultimately setting aside the CIT(A)'s order on the issue. Case-Laws Income Tax Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354921