TMI Blog2008 (1) TMI 883X X X X Extracts X X X X X X X X Extracts X X X X ..... ts and in the circumstances of the case, the Tribunal was justified in law in holding that the loss incurred by the assessee in the purchase and sales of shares cannot be treated as speculation loss and has to be treated as regular business loss, which is adjusted against the order income u/s.70 71 of I.T. Act? b. Whether on the facts and in the circumstances of the case, the Tribunal was jus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e consists mainly of income which is chargeable under the heads Interest on securities , Income from House property , Capital gains and Income from other sources or a company the principal business of which is the business of banking or the granting of loans and advances consisting in the purchase and sale of shares of other companies, such company shall, for the purposes of this section, be ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
