Commodities Transaction Tax deduction applies only to business transactions taxed under profits and gains of business or profession. Deduction is available for Commodities Transaction Tax and Securities Transaction Tax only where the taxable transaction is entered into in the course of business or profession and the income is assessed under the head Profits and gains of business or profession. The benefit does not apply where the person is merely an investor and the income is taxable as capital gains. The note further states that CTT is deductible for business-related taxable commodities transactions, including stock-in-trade situations involving commodity brokers and dealers.