https://www.taxtmi.com/caselaws?id=60869 The Tribunal ruled in favor of the assessee, allowing the appeals for the assessment years 1982-83 and 1983-84, and partly allowing the appeal for the assessment year 1984-85. It held that the losses incurred by the investment company on the purchase and sale of shares could be adjusted against other income as the company's major income sources aligned with the definition of an investment company under the relevant sections of the Act. The Tribunal emphasized the annual application of criteria for determining an investment company and clarified that engaging in the purchase and sale of shares did not constitute speculative business for an investment company. en-us Mon, 10 Aug 1992 00:00:00 +0530 Sat, 08 Jan 2011 13:43:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60869 The Tribunal ruled in favor of the assessee, allowing the appeals for the assessment years 1982-83 and 1983-84, and partly allowing the appeal for the assessment year 1984-85. It held that the losses incurred by the investment company on the purchase and sale of shares could be adjusted against other income as the company's major income sources aligned with the definition of an investment company under the relevant sections of the Act. The Tribunal emphasized the annual application of criteria for determining an investment company and clarified that engaging in the purchase and sale of shares did not constitute speculative business for an investment company. Case-Laws Income Tax Mon, 10 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60869