https://www.taxtmi.com/caselaws?id=382692 The Court upheld the decision to disallow the deduction claimed by the appellant for the valuation of shares, emphasizing the need for substantial evidence to support the classification of shares as investments rather than stock-in-trade for profit computation. The Tribunal's ruling was based on the lack of documentation proving the shares were held for trading activities, leading to the dismissal of the appeal. The judgment aligned with precedents and legal principles, ultimately deciding against the appellant on substantial questions of law. en-us Thu, 20 Jun 2019 00:00:00 +0530 Tue, 09 Jul 2019 06:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382692 The Court upheld the decision to disallow the deduction claimed by the appellant for the valuation of shares, emphasizing the need for substantial evidence to support the classification of shares as investments rather than stock-in-trade for profit computation. The Tribunal's ruling was based on the lack of documentation proving the shares were held for trading activities, leading to the dismissal of the appeal. The judgment aligned with precedents and legal principles, ultimately deciding against the appellant on substantial questions of law. Case-Laws Income Tax Thu, 20 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382692