Speculative transaction exclusion: commodity derivatives traded in CTT chargeable recognised associations not treated as speculative for tax purposes. Amendment narrows the definition of speculative transaction in section 43(5) by providing that eligible trading in commodity derivatives in a recognised association is excluded from being a speculative transaction only where that recognised association is chargeable to commodities transaction tax under the Finance Act, 2013; the amendment is retrospective from 1 April 2014 and applies to the relevant assessment years.
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.
Speculative transaction exclusion: commodity derivatives traded in CTT chargeable recognised associations not treated as speculative for tax purposes.
Amendment narrows the definition of speculative transaction in section 43(5) by providing that eligible trading in commodity derivatives in a recognised association is excluded from being a speculative transaction only where that recognised association is chargeable to commodities transaction tax under the Finance Act, 2013; the amendment is retrospective from 1 April 2014 and applies to the relevant assessment years.
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