https://www.taxtmi.com/caselaws?id=60441 The ITAT upheld the CIT(A)'s decision, allowing the share trading loss to be set off from the assessee's income, rejecting its classification as speculation loss under Explanation to s. 73 of the IT Act, 1961. Additionally, the ITAT directed the AO to delete the disallowance of penalty charges from miscellaneous expenses, finding them unjustified. The Departmental appeal was dismissed. en-us Tue, 26 Aug 2003 00:00:00 +0530 Wed, 07 Aug 2024 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60441 The ITAT upheld the CIT(A)'s decision, allowing the share trading loss to be set off from the assessee's income, rejecting its classification as speculation loss under Explanation to s. 73 of the IT Act, 1961. Additionally, the ITAT directed the AO to delete the disallowance of penalty charges from miscellaneous expenses, finding them unjustified. The Departmental appeal was dismissed. Case-Laws Income Tax Tue, 26 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60441