https://www.taxtmi.com/caselaws?id=57371 The Tribunal held that the loss on the sale of shares was speculative, not a capital loss, under the Explanation to Section 73 of the Income-tax Act, 1961. Despite the assessee's claim of investment intent, the Tribunal found the transaction to be speculative due to the known financial condition of the company. The Tribunal overturned the Commissioner (Appeals) decision, affirming the ITO's classification of the loss as speculative. en-us Tue, 13 Sep 1983 00:00:00 +0530 Thu, 09 Dec 2010 17:53:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57371 The Tribunal held that the loss on the sale of shares was speculative, not a capital loss, under the Explanation to Section 73 of the Income-tax Act, 1961. Despite the assessee's claim of investment intent, the Tribunal found the transaction to be speculative due to the known financial condition of the company. The Tribunal overturned the Commissioner (Appeals) decision, affirming the ITO's classification of the loss as speculative. Case-Laws Income Tax Tue, 13 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57371