https://www.taxtmi.com/caselaws?id=60300 The Tribunal ruled in favor of the appellant-company, upholding the claim that the losses incurred in share trading were genuine and allowable as deductions from income. It found that the transactions were legitimate and not bogus, dismissing the ITO and CIT(Appeals)'s allegations of speculative trading and price manipulation. The Tribunal emphasized the lack of concrete evidence to support the disallowance of losses, ultimately allowing the appeals in favor of the appellant-company. en-us Thu, 24 May 1990 00:00:00 +0530 Tue, 04 Jan 2011 15:49:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60300 The Tribunal ruled in favor of the appellant-company, upholding the claim that the losses incurred in share trading were genuine and allowable as deductions from income. It found that the transactions were legitimate and not bogus, dismissing the ITO and CIT(Appeals)'s allegations of speculative trading and price manipulation. The Tribunal emphasized the lack of concrete evidence to support the disallowance of losses, ultimately allowing the appeals in favor of the appellant-company. Case-Laws Income Tax Thu, 24 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60300