https://www.taxtmi.com/caselaws?id=370208 The Tribunal allowed the appeal, ruling in favor of the assessee on both issues raised. It held that losses from derivative transactions should not be treated as speculative under Section 73 of the Income Tax Act, distinguishing them from shares. Additionally, it canceled the disallowance under Section 14A, noting that the disallowance exceeded tax-free income and was unjustified given substantial revenue from taxable operations. The judgment provided relief to the assessee by clarifying legal distinctions and overturning the decisions of the Assessing Officer and CIT(A). en-us Wed, 31 Oct 2018 00:00:00 +0530 Tue, 13 Nov 2018 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370208 The Tribunal allowed the appeal, ruling in favor of the assessee on both issues raised. It held that losses from derivative transactions should not be treated as speculative under Section 73 of the Income Tax Act, distinguishing them from shares. Additionally, it canceled the disallowance under Section 14A, noting that the disallowance exceeded tax-free income and was unjustified given substantial revenue from taxable operations. The judgment provided relief to the assessee by clarifying legal distinctions and overturning the decisions of the Assessing Officer and CIT(A). Case-Laws Income Tax Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370208