20 July 2010
1. SPECULATION – LOSS – SHARE BROKER – S. 73
Where assessee a share broker, had incurred loss on trading transactions of shares entered into on its own Account, and said loss was to be treated as speculation loss as assessee would be deemed to be carrying on speculative business to extent of business of purchase and sale of shares of other companies with in meaning of Explanation to section 73.
B. L. K. Securities (P) Ltd. vs. ITO (2009) 27 SOT 142 (Delhi)
22 July 2010
Point wise answer has been given above. Where is the problem?
1. Share broker SPECULATION – LOSS – SHARE BROKER – S. 73
Where assessee a share broker, had incurred loss on trading transactions of shares entered into on its own Account, and said loss was to be treated as speculation loss as assessee would be deemed to be carrying on speculative business to extent of business of purchase and sale of shares of other companies with in meaning of Explanation to section 73.
B. L. K. Securities (P) Ltd. vs. ITO (2009) 27 SOT 142 (Delhi)
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