https://www.taxtmi.com/caselaws?id=59701 The Tribunal upheld the treatment of the loss as speculative under Explanation to section 73 of the Income-tax Act, disallowing set-off against other business income but allowing carry forward to subsequent years. Additionally, the Tribunal directed the Assessing Officer to exclude the loss from trading in securities from the total expenditure for allocation purposes and to verify and potentially exclude interest expenditure if borrowed funds were not used for share investment. en-us Wed, 18 Oct 2006 00:00:00 +0530 Fri, 13 Jul 2012 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59701 The Tribunal upheld the treatment of the loss as speculative under Explanation to section 73 of the Income-tax Act, disallowing set-off against other business income but allowing carry forward to subsequent years. Additionally, the Tribunal directed the Assessing Officer to exclude the loss from trading in securities from the total expenditure for allocation purposes and to verify and potentially exclude interest expenditure if borrowed funds were not used for share investment. Case-Laws Income Tax Wed, 18 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59701