https://www.taxtmi.com/caselaws?id=259669 The Tribunal partially allowed the appeal, directing the AO to delete disallowances related to compensation to sister concern and repairs and maintenance expenses based on evidence provided. However, disallowances under section 40(a)(ia) for audit fees and professional fees were confirmed, with a directive to verify TDS payment dates. The disallowance of short-term capital loss on derivatives was upheld, deemed speculative but eligible for carry-forward under Section 73(1) for future set-off. The Tribunal concluded that trading in derivatives was speculative, disallowing set-off against long-term gains but allowing carry-forward for future speculative profits. en-us Wed, 22 Apr 2015 00:00:00 +0530 Mon, 18 May 2015 08:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259669 The Tribunal partially allowed the appeal, directing the AO to delete disallowances related to compensation to sister concern and repairs and maintenance expenses based on evidence provided. However, disallowances under section 40(a)(ia) for audit fees and professional fees were confirmed, with a directive to verify TDS payment dates. The disallowance of short-term capital loss on derivatives was upheld, deemed speculative but eligible for carry-forward under Section 73(1) for future set-off. The Tribunal concluded that trading in derivatives was speculative, disallowing set-off against long-term gains but allowing carry-forward for future speculative profits. Case-Laws Income Tax Wed, 22 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259669