https://www.taxtmi.com/caselaws?id=13100 The court upheld the Tribunal's decision against the appellant, determining that the appellant did not qualify as an investment company under section 109(ii) of the Income-tax Act, 1961 for the assessment year 1982-83. The court emphasized that the appellant's business loss exceeded income from other sources, leading to the application of the Explanation to section 73. Therefore, the court ruled in favor of the Revenue, affirming the Tribunal's decision and disposing of the reference accordingly. en-us Wed, 10 Oct 2001 00:00:00 +0530 Tue, 26 May 2009 13:37:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13100 The court upheld the Tribunal's decision against the appellant, determining that the appellant did not qualify as an investment company under section 109(ii) of the Income-tax Act, 1961 for the assessment year 1982-83. The court emphasized that the appellant's business loss exceeded income from other sources, leading to the application of the Explanation to section 73. Therefore, the court ruled in favor of the Revenue, affirming the Tribunal's decision and disposing of the reference accordingly. Case-Laws Income Tax Wed, 10 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13100