Gauhati High Court
Whether loss on sale of share whose physical delivery not taken by the assessee is speculation loss?
Bhikamchand Betala and Sons Vs. I.T.O. 21/08/2007  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.