https://www.taxtmi.com/caselaws?id=5148 Commission earned for arranging forward contracts for clients was held not to form part of speculation business income because it arose from brokerage services performed independently of market fluctuations and without any speculative risk to the assessee. The assessee carried on two separate activities: speculative transactions on its own account and brokerage work for clients. Since the commission was linked to the brokerage activity, and not to the profits or losses of speculative dealings, it could not be assessed under the head of speculation business. The referred question was answered in the negative, in favour of the Revenue. en-us Thu, 22 Aug 1968 00:00:00 +0530 Thu, 20 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5148 Commission earned for arranging forward contracts for clients was held not to form part of speculation business income because it arose from brokerage services performed independently of market fluctuations and without any speculative risk to the assessee. The assessee carried on two separate activities: speculative transactions on its own account and brokerage work for clients. Since the commission was linked to the brokerage activity, and not to the profits or losses of speculative dealings, it could not be assessed under the head of speculation business. The referred question was answered in the negative, in favour of the Revenue. Case-Laws Income Tax Thu, 22 Aug 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5148