https://www.taxtmi.com/caselaws?id=179345 In ITA No. 2741/Mum/2009, the Tribunal remanded the case back to the Assessing Officer as the distinction between business income and short term capital gains depended on the holding period of shares, which was not adequately considered. In ITA No. 385/Mum/2009, the Tribunal rejected the revenue's appeal, upholding that the loss from derivative transactions should be treated as notional speculative business loss, as per a previous decision. The ITAT Mumbai allowed ITA No. 2741/Mum/2009 for statistical purposes and dismissed ITA No. 3856/Mum/2009. en-us Wed, 28 Mar 2012 00:00:00 +0530 Fri, 26 Feb 2016 17:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179345 In ITA No. 2741/Mum/2009, the Tribunal remanded the case back to the Assessing Officer as the distinction between business income and short term capital gains depended on the holding period of shares, which was not adequately considered. In ITA No. 385/Mum/2009, the Tribunal rejected the revenue's appeal, upholding that the loss from derivative transactions should be treated as notional speculative business loss, as per a previous decision. The ITAT Mumbai allowed ITA No. 2741/Mum/2009 for statistical purposes and dismissed ITA No. 3856/Mum/2009. Case-Laws Income Tax Wed, 28 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179345