https://www.taxtmi.com/caselaws?id=34808 The High Court affirmed the Tribunal's decision, dismissing the appeal. It held that the transactions in shares were speculative, not hedging. The Court also found that the assessee was not involved in a general money lending business, and therefore, the loans to sister concerns could not be claimed as bad debts or business losses. All issues were answered in the negative, favoring the tax department. en-us Wed, 29 Jul 2009 00:00:00 +0530 Tue, 03 Nov 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34808 The High Court affirmed the Tribunal's decision, dismissing the appeal. It held that the transactions in shares were speculative, not hedging. The Court also found that the assessee was not involved in a general money lending business, and therefore, the loans to sister concerns could not be claimed as bad debts or business losses. All issues were answered in the negative, favoring the tax department. Case-Laws Income Tax Wed, 29 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34808