Commodity derivatives traded on recognised associations qualify as eligible transactions if electronically traded and supported by time stamped contract notes. Amendment inserts clause (e) in section 43(5) to treat trading in commodity derivatives on a recognised association as an eligible transaction. Explanation 2 defines 'commodity derivative' per Chapter VII of the Finance Act, 2013; an 'eligible transaction' as electronic screen-based trades through registered members or intermediaries under the Forward Contracts (Regulation) Act, 1952 supported by time-stamped contract notes showing unique client identity number, unique trade number and PAN; and 'recognised association' as an entity under clause (j) of section 2 of that Act meeting prescribed conditions and notified by the Central Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Commodity derivatives traded on recognised associations qualify as eligible transactions if electronically traded and supported by time stamped contract notes.
Amendment inserts clause (e) in section 43(5) to treat trading in commodity derivatives on a recognised association as an eligible transaction. Explanation 2 defines "commodity derivative" per Chapter VII of the Finance Act, 2013; an "eligible transaction" as electronic screen-based trades through registered members or intermediaries under the Forward Contracts (Regulation) Act, 1952 supported by time-stamped contract notes showing unique client identity number, unique trade number and PAN; and "recognised association" as an entity under clause (j) of section 2 of that Act meeting prescribed conditions and notified by the Central Government.
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