The assessee was a non-banking financial institution advancing loans and engaging in investment activities is not speculative transactions. Accordingly the loss is allowable to be set off. (AY. 2005 -06, 2006-07, 2008-09)
CIT v. Nalwa Sons Investment Ltd. (2019) 416 ITR 263 (Delhi)(HC)
S. 73 : Losses in speculation business-Non-Banking financial Institution advancing Loans and making investments-Not speculative transactions-Loss is allowable to be set off. [S. 28(i)]