https://www.taxtmi.com/caselaws?id=235176 HC held that losses from derivative transactions cannot be carried forward as non-speculative; the Explanation to s.73(4) treats share purchase/sale by a company as speculative, and the limited definition of "derivatives" in s.43(5) cannot be extended beyond its specific purpose to exclude such transactions from s.73. The tribunal erred in allowing carry-forward of those losses. The Court ruled for the revenue, finding the statutory scheme intended to deny carry-forward benefits for speculative business. en-us Thu, 11 Jul 2013 00:00:00 +0530 Fri, 07 Nov 2025 17:57:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235176 HC held that losses from derivative transactions cannot be carried forward as non-speculative; the Explanation to s.73(4) treats share purchase/sale by a company as speculative, and the limited definition of "derivatives" in s.43(5) cannot be extended beyond its specific purpose to exclude such transactions from s.73. The tribunal erred in allowing carry-forward of those losses. The Court ruled for the revenue, finding the statutory scheme intended to deny carry-forward benefits for speculative business. Case-Laws Income Tax Thu, 11 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235176