Scope of Section 73 - carry forward of loss on sale of ...

Amendment to Section 73: Share Trading Losses Not Speculative for Companies Primarily Trading Shares; Retrospective Clarification.

March 19, 2018

Case Laws Income Tax AT

Scope of Section 73 - carry forward of loss on sale of investment - loss in share trading was not to treated as speculative loss in case of an company whose principal business was trading in shares and that the said amendment to the explanation was retrospective and clarificatory in nature - AT

View Source

← Previous Next →

Scope of Section 73 - carry forward of loss on sale of ...

Amendment to Section 73: Share Trading Losses Not Speculative for Companies Primarily Trading Shares; Retrospective Clarification.

March 19, 2018

Case Laws Income Tax AT

You may also like:

Valuation loss treated as speculation loss - It is a fact that shares traded by the assessee were not of any of the good companies. The assessee had in the normal course...

The assessee, a professional stock broker, claimed loss on trading of shares which was disallowed by the Assessing Officer (AO) on the grounds that the trades were not...

Treatment of loss from share trading - speculative loss OR business loss - a specific amendment by Parliament in the Explanation to Section 73, insofar as trading in...

Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

Disallowance of loss on sale of shares being stock in trade - The transaction in question, since was not related to the business activity of the assessee, therefore, the...

Treatment to the losses on sale of share as "capital loss" - Assessee has in its books treated the shares as investment and accordingly valued the shares at cost and...

Disallowance of set-off u/s 70 of share trading business loss against income from profession - the assessee has been able to substantiate that the shares were purchased...

Nature of loss - Business loss or Speculation loss - transactions in purchase and sale of shares settled otherwise than the actual delivery - the said loss is computed...

Revision u/s 263 - set off of loss in speculation business against business income - In the present case, the principle business of the assessee is trading in shares....

Loss suffered by a company in share transactions is to be treated as a speculative loss within the meaning of s. 73, notwithstanding the fact that there was actual...

Speculation loss u/s.73 - assessee had in the normal course of business purchased the shares - Because of the turmoil in the share market in the year under consideration...

The reopening of assessment proceedings u/s 147 was valid as the Assessing Officer (AO) had received information about the assessee booking tax loss through trade in...

Disallowing of loss on shares - method of valuation of shares at cost or market price - Since the assessee has himself treated the same as investment, no trading loss...

Assessee held shares as stock-in-trade for trading purposes, not to earn dividend income. HC held provisions of Section 14A disallowing expenses relatable to exempt...

Reduction of share capital - Even though the public shareholders/non promotor shareholders had objected to the reduction of share capital in the EGH but the majority...

Quick Updates: