https://www.taxtmi.com/caselaws?id=20601 The court determined that the loss incurred from premature encashment of cash certificates was a capital loss, not a revenue loss. The High Court ruled in favor of the Revenue, following the Supreme Court's precedent that the nature of the loss is based on the asset it relates to directly. Regarding the carry forward of the loss, the court held that the unamended provision of section 80 applied for the relevant assessment year, allowing the assessee to benefit from carry forward and set off. The court did not award any costs in this case. en-us Wed, 31 Mar 1993 00:00:00 +0530 Mon, 16 Nov 2009 10:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20601 The court determined that the loss incurred from premature encashment of cash certificates was a capital loss, not a revenue loss. The High Court ruled in favor of the Revenue, following the Supreme Court's precedent that the nature of the loss is based on the asset it relates to directly. Regarding the carry forward of the loss, the court held that the unamended provision of section 80 applied for the relevant assessment year, allowing the assessee to benefit from carry forward and set off. The court did not award any costs in this case. Case-Laws Income Tax Wed, 31 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20601