https://www.taxtmi.com/caselaws?id=126621 The Tribunal upheld the decision of the ld. CIT(A) that profit from future and option transactions should be treated as speculative until the relevant amendment, not applicable retrospectively. The Special Bench judgment was considered binding, and no contrary material or higher court judgment was presented to warrant a different view. Therefore, the appeal filed by the assessee was dismissed, clarifying the distinction between speculative and business transactions in such cases. en-us Fri, 17 Sep 2010 00:00:00 +0530 Fri, 23 Nov 2012 16:19:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126621 The Tribunal upheld the decision of the ld. CIT(A) that profit from future and option transactions should be treated as speculative until the relevant amendment, not applicable retrospectively. The Special Bench judgment was considered binding, and no contrary material or higher court judgment was presented to warrant a different view. Therefore, the appeal filed by the assessee was dismissed, clarifying the distinction between speculative and business transactions in such cases. Case-Laws Income Tax Fri, 17 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126621