Speculation Loss ::

Court :
HC

Brief :
Held by the Hon`ble Court that, under the settlement of the contract damages are paid and no physical delivery, only price difference between sale and purchase is considered. Therefore loss on sale of share is a speculative loss.

Citation :
Bhikamchand Betala and Sons Vs. I.T.O.

Speculation Loss Bhikamchand Betala and Sons Vs. I.T.O. 08/21/2007 [2007] 294 ITR 10 (Gauhati) Case Fact: Whether, loss on sale of share whose physical delivery not taken by the assessee is speculation loss? Decision: Held by the Hon`ble Court that, under the settlement of the contract damages are paid and no physical delivery, only price difference between sale and purchase is considered. Therefore loss on sale of share is a speculative loss.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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