Dismissing the appeal the Court held that ;when the assessee had not been able to prove why the transaction in shares should not be treated as speculative transaction, there was no reason to interfere with the concurrent findings of fact recorded by the Assessing Officer as confirmed by the Commissioner (Appeals) as well as the Tribunal. ( AY.2004 -05)
Jaidayal Prannath Kapur v. CIT (2018) 408 ITR 315/ 172 DTR 103/( 2019) 307 CTR 757 (Mad)( HC)
S. 73 : Losses in speculation business -Set-off of Losses —Transaction in shares- No evidence was produced – Loss cannot be set off.[ S.133(6)]