https://www.taxtmi.com/caselaws?id=59869 The Tribunal allowed the appeal, determining that the loss of Rs. 3 lakhs on the sale of shares was a revenue loss incurred in the course of the assessee's money lending business and therefore deductible in the computation of business income. This decision was supported by relevant case law, including the Supreme Court's ruling in Pandit Narain Dutt Chhimwal's case, which established that assets acquired in lieu of a money lending debt retain their character as business assets. en-us Fri, 27 Dec 1991 00:00:00 +0530 Sat, 01 Jan 2011 15:49:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59869 The Tribunal allowed the appeal, determining that the loss of Rs. 3 lakhs on the sale of shares was a revenue loss incurred in the course of the assessee's money lending business and therefore deductible in the computation of business income. This decision was supported by relevant case law, including the Supreme Court's ruling in Pandit Narain Dutt Chhimwal's case, which established that assets acquired in lieu of a money lending debt retain their character as business assets. Case-Laws Income Tax Fri, 27 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59869