https://www.taxtmi.com/caselaws?id=330691 The appeal was partly allowed in the case. The disallowance of Rs. 24,907 under Section 14A of the Income Tax Act was upheld as the assessee did not press this ground. However, the disallowance of carried forward and set off of Rs. 20,83,591 as speculative loss was overturned. The losses from derivative transactions before 25th January 2006 were treated as non-speculative business losses, eligible for set-off against normal business income. The Tribunal's decision was pronounced on 29th July 2016. en-us Fri, 29 Jul 2016 00:00:00 +0530 Wed, 03 Aug 2016 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330691 The appeal was partly allowed in the case. The disallowance of Rs. 24,907 under Section 14A of the Income Tax Act was upheld as the assessee did not press this ground. However, the disallowance of carried forward and set off of Rs. 20,83,591 as speculative loss was overturned. The losses from derivative transactions before 25th January 2006 were treated as non-speculative business losses, eligible for set-off against normal business income. The Tribunal's decision was pronounced on 29th July 2016. Case-Laws Income Tax Fri, 29 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330691