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1973 (3) TMI 32 - HC - Income TaxWhether, on the facts and in the circumstances of the case, the disallowance of the claim for the set off of the loss of Rs. 6,187, against the assessee's business income on the ground that it was a speculation loss was justified in law? In this case there is no dispute about the transactions being in the nature of a business because, as pointed out by the Tribunal, the assessee had entered into a number of similar contracts some of which had resulted in profit as well. The assessee is, therefore, not entitled for the set-off of the loss of Rs, 6,187 against his income from other business. The question referred is accordingly answered in the affirmative and against the assessee
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