https://www.taxtmi.com/caselaws?id=378511 The High Court affirmed the Tribunal's decision regarding the applicability of Explanation to Section 73 of the Income Tax Act, 1961 in a case involving a limited company. The Court upheld the Tribunal's findings that the company's activities of buying and selling shares were investment-oriented rather than speculative. It dismissed the Revenue's challenge, stating that the issue of speculation was not raised in a timely manner and found no legal basis to reconsider the Tribunal's decision. The Appeal was therefore dismissed in favor of the Assessee. en-us Wed, 27 Feb 2019 00:00:00 +0530 Wed, 17 Apr 2019 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378511 The High Court affirmed the Tribunal's decision regarding the applicability of Explanation to Section 73 of the Income Tax Act, 1961 in a case involving a limited company. The Court upheld the Tribunal's findings that the company's activities of buying and selling shares were investment-oriented rather than speculative. It dismissed the Revenue's challenge, stating that the issue of speculation was not raised in a timely manner and found no legal basis to reconsider the Tribunal's decision. The Appeal was therefore dismissed in favor of the Assessee. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378511