https://www.taxtmi.com/caselaws?id=13334 Excise duty on raw materials and finished goods was not includible in closing stock valuation for the purpose considered, in line with binding precedent. Units of the Unit Trust of India were not treated as shares in the absence of a deeming provision, so a loss arising from sale of units within one month of purchase was business loss and not speculative loss. Because the unit transactions were not speculative, the dividend component connected with those units was eligible for deduction under section 80M on the approach accepted by the Tribunal. en-us Wed, 08 Feb 2006 00:00:00 +0530 Thu, 28 May 2009 12:07:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13334 Excise duty on raw materials and finished goods was not includible in closing stock valuation for the purpose considered, in line with binding precedent. Units of the Unit Trust of India were not treated as shares in the absence of a deeming provision, so a loss arising from sale of units within one month of purchase was business loss and not speculative loss. Because the unit transactions were not speculative, the dividend component connected with those units was eligible for deduction under section 80M on the approach accepted by the Tribunal. Case-Laws Income Tax Wed, 08 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13334