https://www.taxtmi.com/caselaws?id=29188 The High Court upheld the decision of the Appellate Tribunal, determining that brokerage income in speculative business should not be classified as speculation income. Citing a Supreme Court precedent, the Court clarified that income like commission, unaffected by market fluctuations, cannot be considered speculative. Consequently, the Tribunal's classification of brokerage income was upheld in favor of the Revenue, with each party bearing its own costs. The request for leave to appeal to the Supreme Court was dismissed. en-us Thu, 04 Sep 1980 00:00:00 +0530 Thu, 11 Mar 2010 13:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29188 The High Court upheld the decision of the Appellate Tribunal, determining that brokerage income in speculative business should not be classified as speculation income. Citing a Supreme Court precedent, the Court clarified that income like commission, unaffected by market fluctuations, cannot be considered speculative. Consequently, the Tribunal's classification of brokerage income was upheld in favor of the Revenue, with each party bearing its own costs. The request for leave to appeal to the Supreme Court was dismissed. Case-Laws Income Tax Thu, 04 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29188