https://www.taxtmi.com/caselaws?id=380437 The Supreme Court upheld the High Court's decision, affirming that the appellant's principal business was share trading, not granting loans and advances, and the loss from speculation could not be set off against business profits. The court also held that the amendment to the Explanation to Section 73, effective from 1 April 2015, was not retrospective. Consequently, the appeal was dismissed, and the High Court's judgment was affirmed. en-us Tue, 30 Apr 2019 00:00:00 +0530 Sat, 15 Jun 2019 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380437 The Supreme Court upheld the High Court's decision, affirming that the appellant's principal business was share trading, not granting loans and advances, and the loss from speculation could not be set off against business profits. The court also held that the amendment to the Explanation to Section 73, effective from 1 April 2015, was not retrospective. Consequently, the appeal was dismissed, and the High Court's judgment was affirmed. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380437