https://www.taxtmi.com/caselaws?id=19447 The High Court allowed the sum of Rs. 39,000 as a business loss for the assessee, contrary to the Tribunal's decision. The Court emphasized the intention behind the share purchase to enhance business relations, ruling that the loss should be considered a business loss despite the shares not being treated as stock-in-trade. The Court referenced precedents where losses incurred for business benefits were accepted as business losses, rejecting the Tribunal's conclusion and highlighting the nexus between the investment and business improvement. en-us Thu, 28 Jul 1994 00:00:00 +0530 Fri, 06 Nov 2009 12:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19447 The High Court allowed the sum of Rs. 39,000 as a business loss for the assessee, contrary to the Tribunal's decision. The Court emphasized the intention behind the share purchase to enhance business relations, ruling that the loss should be considered a business loss despite the shares not being treated as stock-in-trade. The Court referenced precedents where losses incurred for business benefits were accepted as business losses, rejecting the Tribunal's conclusion and highlighting the nexus between the investment and business improvement. Case-Laws Income Tax Thu, 28 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19447