https://www.taxtmi.com/caselaws?id=204713 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the set-off of the loss from derivative transactions against regular business income. The Tribunal concluded that transactions in derivatives carried out through recognized stock exchanges during the assessment year 2006-07 should be treated as non-speculative, following the clarification that clause (d) of section 43(5) is prospective and effective from 1-4-2006. en-us Fri, 17 Jun 2011 00:00:00 +0530 Thu, 28 Jul 2011 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204713 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the set-off of the loss from derivative transactions against regular business income. The Tribunal concluded that transactions in derivatives carried out through recognized stock exchanges during the assessment year 2006-07 should be treated as non-speculative, following the clarification that clause (d) of section 43(5) is prospective and effective from 1-4-2006. Case-Laws Income Tax Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204713