https://www.taxtmi.com/caselaws?id=59680 Share-loss treatment depended on the real character of the transactions: the assessee's frequent, high-volume share dealings and short holding periods showed trading activity, so the loss was not capital loss under section 74. The Explanation to section 73 applied because the assessee failed to prove that its principal business was granting loans and advances; NBFC registration, objects clause, and accounting labels were insufficient, so the share loss was deemed speculative. Claims for higher depreciation on leased trucks and for provident fund and ESIC contributions under section 43B were remanded for verification, with relief available if the factual conditions were satisfied. en-us Tue, 10 May 2005 00:00:00 +0530 Sat, 07 Jul 2012 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59680 Share-loss treatment depended on the real character of the transactions: the assessee's frequent, high-volume share dealings and short holding periods showed trading activity, so the loss was not capital loss under section 74. The Explanation to section 73 applied because the assessee failed to prove that its principal business was granting loans and advances; NBFC registration, objects clause, and accounting labels were insufficient, so the share loss was deemed speculative. Claims for higher depreciation on leased trucks and for provident fund and ESIC contributions under section 43B were remanded for verification, with relief available if the factual conditions were satisfied. Case-Laws Income Tax Tue, 10 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59680