https://www.taxtmi.com/caselaws?id=23070 The High Court allowed the loss on the sale of securities and treated the loss on the sale of U. P. Development Loan as a business loss for the assessment year 1969-70. It upheld the partial partition of Seth Banarsi Dass Gupta (HUF) for the assessment year 1968-69 and allowed interest payments as deductions. The Court ruled in favor of the assessee for all issues, emphasizing commercial expediency and the business nature of the transactions, aligning with previous legal interpretations. en-us Mon, 20 Aug 1990 00:00:00 +0530 Wed, 16 Dec 2009 15:07:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23070 The High Court allowed the loss on the sale of securities and treated the loss on the sale of U. P. Development Loan as a business loss for the assessment year 1969-70. It upheld the partial partition of Seth Banarsi Dass Gupta (HUF) for the assessment year 1968-69 and allowed interest payments as deductions. The Court ruled in favor of the assessee for all issues, emphasizing commercial expediency and the business nature of the transactions, aligning with previous legal interpretations. Case-Laws Income Tax Mon, 20 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23070