https://www.taxtmi.com/caselaws?id=60305 The tribunal upheld the CIT(Appeals)'s decision to treat the share transaction loss as a normal business loss, rejecting the department's argument that it was speculative. Additionally, the tribunal supported the deletion of the loss on the purchase and sale of raw jute, finding the explanations and evidence provided by the assessee's representative to be convincing and confirming the genuineness of the transactions. The tribunal dismissed the departmental appeal, affirming the CIT(Appeals)'s decisions on both issues. en-us Thu, 31 Oct 1991 00:00:00 +0530 Tue, 04 Jan 2011 16:04:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60305 The tribunal upheld the CIT(Appeals)'s decision to treat the share transaction loss as a normal business loss, rejecting the department's argument that it was speculative. Additionally, the tribunal supported the deletion of the loss on the purchase and sale of raw jute, finding the explanations and evidence provided by the assessee's representative to be convincing and confirming the genuineness of the transactions. The tribunal dismissed the departmental appeal, affirming the CIT(Appeals)'s decisions on both issues. Case-Laws Income Tax Thu, 31 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60305