Speculation Loss
Court :
Gauhati High Court
Brief :
Whether loss on sale of share whose physical delivery not taken by the assessee is speculation loss?
Citation :
Bhikamchand Betala and Sons Vs. I.T.O. 21/08/2007 [2007] 294 ITR 10
Held by the Honourable 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.
Devendra
Published in Income Tax
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