Speculation Loss u/s 73: Buying Shares for Investment Isn't a Business Activity; Explanation Deemed Inapplicable.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Speculation loss u/s 73 - it is apparent from computation that no part of the business of the assessee company consists of purchase and sale of the shares - Merely indulging in purchase and sale of shares for investment is not business activity in sale and purchase of shares of other companies for the purpose of this section - explanation to section 73 does not apply to the assessee company....