Case Law Details
Case Name : Snowtex Investment Limited Vs Pr. CIT (Supreme Court)
Related Assessment Year : 2008-09
Courts :
Supreme Court of India
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Snowtex Investment Limited Vs Pr. CIT (Supreme Court)
Conclusion: Loss occurred to assessee as a result of its activity of trading in shares (a loss arising from the business of speculation) was not capable of being set off against the profits which it had earned against the business of futures and options since the latter did not constitute profits and gains of a speculative business.
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