Bombay High Court Dismisses Revenue Appeal in Income Tax Case on Interpretation of Explanation to Section 73 — Share Trading Loss Not Speculative Where Non-Speculative Income Exceeds Loss. The court held that gross total income for the exception includes all income chargeable under the Act, and if non-speculative income exceeds speculative loss, the exception applies.
2 Feb 2012The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tribunal (ITAT) which had u...




