https://www.taxtmi.com/caselaws?id=55729 The Tribunal determined that the assessee did not qualify as an investment or banking company, resulting in the loss on shares being treated as speculation loss. As a consequence, the assessee was entitled to relief under section 80M. The Tribunal directed the Income Tax Officer to allow the relief as per the law, ultimately ruling in favor of the assessee in both appeals for the assessment years 1981-82 and 1982-83. en-us Fri, 11 Oct 1985 00:00:00 +0530 Mon, 29 Nov 2010 16:57:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55729 The Tribunal determined that the assessee did not qualify as an investment or banking company, resulting in the loss on shares being treated as speculation loss. As a consequence, the assessee was entitled to relief under section 80M. The Tribunal directed the Income Tax Officer to allow the relief as per the law, ultimately ruling in favor of the assessee in both appeals for the assessment years 1981-82 and 1982-83. Case-Laws Income Tax Fri, 11 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55729