https://www.taxtmi.com/caselaws?id=35961 The court ruled against M/s. Sir Shadilal Sugar and General Mills Ltd., disallowing their claim for deduction of a trading loss in Govt. securities for the assessment year 1964-65. The court found that the securities were purchased for investment purposes, and the loss was deemed capital in nature. The assessee failed to demonstrate a compelling reason for selling the securities before maturity, leading to the disallowance of the deduction. The court upheld the decision in favor of the department, awarding costs of Rs. 200. en-us Mon, 10 Aug 1981 00:00:00 +0530 Thu, 18 Mar 2010 11:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35961 The court ruled against M/s. Sir Shadilal Sugar and General Mills Ltd., disallowing their claim for deduction of a trading loss in Govt. securities for the assessment year 1964-65. The court found that the securities were purchased for investment purposes, and the loss was deemed capital in nature. The assessee failed to demonstrate a compelling reason for selling the securities before maturity, leading to the disallowance of the deduction. The court upheld the decision in favor of the department, awarding costs of Rs. 200. Case-Laws Income Tax Mon, 10 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35961