https://www.taxtmi.com/caselaws?id=423809 The High Court of Calcutta upheld the lower authorities' decisions regarding the treatment of the Assessee Company's loss from share transactions under Section 73 of the Income Tax Act, 1961. The Court affirmed that the income earned from sources other than share transactions did not impact the classification of the loss as non-Speculation Loss. Additionally, the Court found that Rule 8D(2)(iii) was not applicable without specific findings on the inapplicability of Section 14A. Consequently, the appeal was dismissed, and the connected application was closed. en-us Wed, 08 Jun 2022 00:00:00 +0530 Wed, 15 Jun 2022 09:19:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423809 The High Court of Calcutta upheld the lower authorities' decisions regarding the treatment of the Assessee Company's loss from share transactions under Section 73 of the Income Tax Act, 1961. The Court affirmed that the income earned from sources other than share transactions did not impact the classification of the loss as non-Speculation Loss. Additionally, the Court found that Rule 8D(2)(iii) was not applicable without specific findings on the inapplicability of Section 14A. Consequently, the appeal was dismissed, and the connected application was closed. Case-Laws Income Tax Wed, 08 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423809