TOTAL SECURITIES LTD,MUMBAI vs. DCIT 4(2), MUMBAI

Appeal stand allowed

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1738/Chny/2019 (िनधा1रण वष1 / Assessment Year: 2009-10) M/S. Total Securities Ltd. Acit बनाम/ Eden Garden, First Floor; Corporate Circle-3(1), Opp.To Mca Club, Near Pizza Hut Chennai. Vs. Kandivali, West Mumbai-400 067. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabct-1302-N (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Thulasiram (Advocate) Ld. Ar " थ"कीओरसे/Respondent By : Shri Ar.V.Sreenivasan (Addl Cit) Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 16-05-2023 घोषणाकीतारीख/Date Of Pronouncement : 07-06-2023 आदेश / O R D E R

d) of Sec. 43(5) was non-speculative in nature. Since the assessee was engaged in the business of share trading, the explanation to Section 73 would apply which provide that any income or loss arising from such transactions is 4 deemed to be speculative in nature. The said explanation read as under:- Where any part of the business