https://www.taxtmi.com/caselaws?id=185211 The ITAT allowed the assessee's appeal against the CIT(A)'s decision, permitting the set off of losses from earlier years against profits earned on derivative transactions in the current year. The ITAT held that the assessee engaged in similar derivative transactions consistently, and as the profit was from the same business activity, the losses could be set off. Relying on precedent, the ITAT concluded that the assessee was entitled to set off the carried forward losses from dealing in derivatives. The appeal was allowed in favor of the assessee on 02/12/2014. en-us Tue, 02 Dec 2014 00:00:00 +0530 Thu, 04 Aug 2016 10:59:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185211 The ITAT allowed the assessee's appeal against the CIT(A)'s decision, permitting the set off of losses from earlier years against profits earned on derivative transactions in the current year. The ITAT held that the assessee engaged in similar derivative transactions consistently, and as the profit was from the same business activity, the losses could be set off. Relying on precedent, the ITAT concluded that the assessee was entitled to set off the carried forward losses from dealing in derivatives. The appeal was allowed in favor of the assessee on 02/12/2014. Case-Laws Income Tax Tue, 02 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185211