https://www.taxtmi.com/caselaws?id=251902 The High Court upheld the decision allowing a trading loss on Future & Options (F&O) transactions, dismissing the Revenue's challenge of an alleged artificial loss. The Court noted the absence of reasons for disallowing the loss and affirmed the deletion of disallowance by the Commissioner (Appeals). Emphasizing the genuine nature of the claimed loss, the Court found no substantial legal question to interfere with the decision, ultimately dismissing the Tax Appeal and affirming the allowance of the trading loss on F&O transactions. en-us Mon, 08 Sep 2014 00:00:00 +0530 Sat, 04 Oct 2014 07:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251902 The High Court upheld the decision allowing a trading loss on Future & Options (F&O) transactions, dismissing the Revenue's challenge of an alleged artificial loss. The Court noted the absence of reasons for disallowing the loss and affirmed the deletion of disallowance by the Commissioner (Appeals). Emphasizing the genuine nature of the claimed loss, the Court found no substantial legal question to interfere with the decision, ultimately dismissing the Tax Appeal and affirming the allowance of the trading loss on F&O transactions. Case-Laws Income Tax Mon, 08 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251902