https://www.taxtmi.com/caselaws?id=179012 The High Court upheld the decision of the Income Tax Appellate Tribunal in favor of the assessee, ruling that the loss claimed in commodity future trading was genuine. The court found no perversity in the transactions and emphasized that legitimate tax planning should not be objected to by the revenue. The Tribunal's findings were deemed valid as it had considered all relevant material, leading to the dismissal of the appeal with no order as to costs. en-us Mon, 08 Sep 2014 00:00:00 +0530 Thu, 18 Feb 2016 07:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179012 The High Court upheld the decision of the Income Tax Appellate Tribunal in favor of the assessee, ruling that the loss claimed in commodity future trading was genuine. The court found no perversity in the transactions and emphasized that legitimate tax planning should not be objected to by the revenue. The Tribunal's findings were deemed valid as it had considered all relevant material, leading to the dismissal of the appeal with no order as to costs. Case-Laws Income Tax Mon, 08 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179012