Held that loss arising from the sale of goods and high seas sales could not be said to be a speculation loss. The order of the Commissioner (Appeals) holding it to be a regular trading loss was upheld. (AY.2001-02 to 2008-09)
ITO v. M. M. Poonjiaji Spices Ltd. (2024)113 ITR 294 /230 TTJ 312 (Mum)(Trib)
S. 28(1) : Business loss-Speculation loss-High seas sales not speculation loss-Allowable as business loss. [S43(5)]
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