https://www.taxtmi.com/caselaws?id=277510 The Tribunal found that the appellant's transactions in the derivatives segment did not violate the relevant regulations as the trades did not manipulate the market or influence the Nifty index. The synchronized and reversed trades were deemed legal unless they impacted the market, which was not the case here. Additionally, the trades executed for tax planning purposes were permissible as long as they did not manipulate the market. The charge of violating the NSE circular was dismissed as it was not legally binding on the appellant. The appeal was allowed, and the penalty imposed was set aside with no order as to costs. en-us Mon, 11 Oct 2010 00:00:00 +0530 Thu, 06 Dec 2018 11:24:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277510 The Tribunal found that the appellant's transactions in the derivatives segment did not violate the relevant regulations as the trades did not manipulate the market or influence the Nifty index. The synchronized and reversed trades were deemed legal unless they impacted the market, which was not the case here. Additionally, the trades executed for tax planning purposes were permissible as long as they did not manipulate the market. The charge of violating the NSE circular was dismissed as it was not legally binding on the appellant. The appeal was allowed, and the penalty imposed was set aside with no order as to costs. Case-Laws Companies Law Mon, 11 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277510