Commodities transaction tax on options and derivatives traded in recognised associations, with defined assessing and appellate roles. Commodities transaction tax is levied on transactions defined as taxable commodities transactions-purchase or sale of option in goods, option in commodity derivative, or any other commodity derivative traded in recognised associations-while 'Assessing Officer' and 'Appellate Tribunal' are specified by reference to authorised Income tax functionaries and the tribunal under the Income tax Act; undefined words take their meanings from the Forward Contracts (Regulation) Act, the Income tax Act, or related rules, and 'prescribed' matters are set by rules under the Chapter.
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Provisions expressly mentioned in the judgment/order text.
Commodities transaction tax on options and derivatives traded in recognised associations, with defined assessing and appellate roles.
Commodities transaction tax is levied on transactions defined as taxable commodities transactions-purchase or sale of option in goods, option in commodity derivative, or any other commodity derivative traded in recognised associations-while "Assessing Officer" and "Appellate Tribunal" are specified by reference to authorised Income tax functionaries and the tribunal under the Income tax Act; undefined words take their meanings from the Forward Contracts (Regulation) Act, the Income tax Act, or related rules, and "prescribed" matters are set by rules under the Chapter.
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