https://www.taxtmi.com/caselaws?id=22136 The High Court held that the Tribunal erred in allowing the deduction of Rs. 27,035 without considering the nature and legality of the speculative transaction. The Tribunal was directed to re-examine if the loss could be set off against profits from the same illegal speculative business. The High Court declined to address the first two issues and instructed the Tribunal to dispose of the appeal based on the judgment's observations. en-us Wed, 26 Jun 1991 00:00:00 +0530 Mon, 07 Dec 2009 14:00:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22136 The High Court held that the Tribunal erred in allowing the deduction of Rs. 27,035 without considering the nature and legality of the speculative transaction. The Tribunal was directed to re-examine if the loss could be set off against profits from the same illegal speculative business. The High Court declined to address the first two issues and instructed the Tribunal to dispose of the appeal based on the judgment's observations. Case-Laws Income Tax Wed, 26 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22136