https://www.taxtmi.com/caselaws?id=326313 The Tribunal allowed the appeals of the assesses, directing the Assessing Officer to delete the additions made towards the loss on commodity transactions for the assessment year 2008-09. The Tribunal found the loss on commodity transactions to be genuine and not fictitious, criticizing the CIT(A) for unjustified actions in treating the loss as bogus. The Tribunal determined that the loss should be set off against speculative income from share trading, emphasizing the legitimacy of the commodity trading activities based on documents provided by the assessee. en-us Wed, 09 Mar 2016 00:00:00 +0530 Tue, 12 Apr 2016 11:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326313 The Tribunal allowed the appeals of the assesses, directing the Assessing Officer to delete the additions made towards the loss on commodity transactions for the assessment year 2008-09. The Tribunal found the loss on commodity transactions to be genuine and not fictitious, criticizing the CIT(A) for unjustified actions in treating the loss as bogus. The Tribunal determined that the loss should be set off against speculative income from share trading, emphasizing the legitimacy of the commodity trading activities based on documents provided by the assessee. Case-Laws Income Tax Wed, 09 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326313