https://www.taxtmi.com/caselaws?id=26525 The High Court upheld the Tribunal's decision allowing the set off of speculation loss against brokerage income earned from pucca delivery orders (PDOs). The Court emphasized the inseparable nature of the assessee's brokerage income and PDO transaction results, supported by historical treatment of these transactions as business activities. The Court noted that the Income-tax Officer had previously considered brokerage and PDO transactions as interconnected under the 'Business' head, justifying the set off of loss against profit. The decision favored the assessee due to the inherent link between brokerage income and PDO losses. en-us Tue, 28 Jan 1986 00:00:00 +0530 Fri, 05 Feb 2010 15:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26525 The High Court upheld the Tribunal's decision allowing the set off of speculation loss against brokerage income earned from pucca delivery orders (PDOs). The Court emphasized the inseparable nature of the assessee's brokerage income and PDO transaction results, supported by historical treatment of these transactions as business activities. The Court noted that the Income-tax Officer had previously considered brokerage and PDO transactions as interconnected under the 'Business' head, justifying the set off of loss against profit. The decision favored the assessee due to the inherent link between brokerage income and PDO losses. Case-Laws Income Tax Tue, 28 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26525