https://www.taxtmi.com/caselaws?id=27421 The High Court determined that the transactions in question for the assessment years 1969-70 to 1974-75 were not speculative transactions under section 43(5) and did not constitute speculation business under Explanation 2 to section 28. Therefore, the losses incurred were considered allowable as business losses. The court upheld the Tribunal's decision to allow the set-off of these losses against the assessee's regular business income, ruling in favor of the assessee and against the Revenue. en-us Fri, 26 Oct 1984 00:00:00 +0530 Fri, 12 Feb 2010 16:42:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27421 The High Court determined that the transactions in question for the assessment years 1969-70 to 1974-75 were not speculative transactions under section 43(5) and did not constitute speculation business under Explanation 2 to section 28. Therefore, the losses incurred were considered allowable as business losses. The court upheld the Tribunal's decision to allow the set-off of these losses against the assessee's regular business income, ruling in favor of the assessee and against the Revenue. Case-Laws Income Tax Fri, 26 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27421