https://www.taxtmi.com/article/detailed?id=5201 The statutory framework separates business income into normal and speculative business where a business income explanation deems speculative transactions a distinct business; exceptions to the definition of speculative transactions treat specified hedging and qualified derivative trades as non speculative, making their results eligible for general set off and carry forward. By contrast, a speculative loss deeming provision treats certain share trading losses as speculative for limited carry forward purposes. The author argues a recent high court judgment treated derivatives as equivalent to shares without adequately addressing the business income explanation or the general carry forward mechanism. en-us Sat, 20 Jul 2013 09:16:10 +0530 Sat, 20 Jul 2013 09:16:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5201 The statutory framework separates business income into normal and speculative business where a business income explanation deems speculative transactions a distinct business; exceptions to the definition of speculative transactions treat specified hedging and qualified derivative trades as non speculative, making their results eligible for general set off and carry forward. By contrast, a speculative loss deeming provision treats certain share trading losses as speculative for limited carry forward purposes. The author argues a recent high court judgment treated derivatives as equivalent to shares without adequately addressing the business income explanation or the general carry forward mechanism. Articles Income Tax Sat, 20 Jul 2013 09:16:10 +0530 https://www.taxtmi.com/article/detailed?id=5201