https://www.taxtmi.com/caselaws?id=20534 The High Court upheld the Tribunal's decision in favor of the assessee, allowing the deduction for losses on shares of a company. The Court found that the shares were acquired and sold in the normal course of business, not as an investment for control, based on the lack of majority shareholding and past treatment of profits from share sales as business profits. Despite the Revenue's arguments challenging the Tribunal's findings, the Court dismissed them, ruling in favor of the assessee and denying the Revenue's appeal. en-us Thu, 23 Jul 1992 00:00:00 +0530 Sat, 14 Nov 2009 15:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20534 The High Court upheld the Tribunal's decision in favor of the assessee, allowing the deduction for losses on shares of a company. The Court found that the shares were acquired and sold in the normal course of business, not as an investment for control, based on the lack of majority shareholding and past treatment of profits from share sales as business profits. Despite the Revenue's arguments challenging the Tribunal's findings, the Court dismissed them, ruling in favor of the assessee and denying the Revenue's appeal. Case-Laws Income Tax Thu, 23 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20534