https://www.taxtmi.com/caselaws?id=275616 The Calcutta HC noted that the Tribunal's factual findings controlled each issue: the assessee's business was not predominantly speculative, so no restriction on set-off against speculative gains arose; the expenditure claimed was found not to have been incurred for earning exempt income, so disallowance was not warranted; and the share applicants' identities and genuineness were established, so the share application money could not be treated adversely. On each point, the court held that the Revenue's challenge did not raise any question of law and declined interference. en-us Mon, 14 May 2018 00:00:00 +0530 Wed, 10 Oct 2018 09:06:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275616 The Calcutta HC noted that the Tribunal's factual findings controlled each issue: the assessee's business was not predominantly speculative, so no restriction on set-off against speculative gains arose; the expenditure claimed was found not to have been incurred for earning exempt income, so disallowance was not warranted; and the share applicants' identities and genuineness were established, so the share application money could not be treated adversely. On each point, the court held that the Revenue's challenge did not raise any question of law and declined interference. Case-Laws Income Tax Mon, 14 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275616