https://www.taxtmi.com/caselaws?id=58188 The tribunal held that the AAC erred in classifying the loss on the sale of shares as 'Speculation Loss' instead of 'Short Term Capital Loss'. The tribunal found that the transactions were not speculative under Section 43(5) as there was evidence of proper acquisition of shares. It was concluded that even if one transaction was speculative, it did not amount to speculative business under Section 73(1). The tribunal allowed the set-off of the short-term capital loss of Rs. 17,850 claimed by the assessee, overturning the AAC's decision. en-us Mon, 17 Oct 1988 00:00:00 +0530 Fri, 17 Dec 2010 17:26:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58188 The tribunal held that the AAC erred in classifying the loss on the sale of shares as 'Speculation Loss' instead of 'Short Term Capital Loss'. The tribunal found that the transactions were not speculative under Section 43(5) as there was evidence of proper acquisition of shares. It was concluded that even if one transaction was speculative, it did not amount to speculative business under Section 73(1). The tribunal allowed the set-off of the short-term capital loss of Rs. 17,850 claimed by the assessee, overturning the AAC's decision. Case-Laws Income Tax Mon, 17 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58188