https://www.taxtmi.com/caselaws?id=365788 The Tribunal revised its decision in favor of the assessee, treating the loss incurred on Future & Option (F&O) transactions as a normal business loss eligible for set-off against other business income. The Tribunal acknowledged overlooking a favorable judgment from the Calcutta High Court, which held that such losses should not be categorized as speculative. Consequently, the interest charges under sections 234B and 234C of the Income Tax Act may need to be recalculated in line with this revised decision. en-us Tue, 21 Aug 2018 00:00:00 +0530 Thu, 23 Aug 2018 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365788 The Tribunal revised its decision in favor of the assessee, treating the loss incurred on Future & Option (F&O) transactions as a normal business loss eligible for set-off against other business income. The Tribunal acknowledged overlooking a favorable judgment from the Calcutta High Court, which held that such losses should not be categorized as speculative. Consequently, the interest charges under sections 234B and 234C of the Income Tax Act may need to be recalculated in line with this revised decision. Case-Laws Income Tax Tue, 21 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365788