https://www.taxtmi.com/caselaws?id=372297 The Tribunal upheld the CIT(A)'s decision regarding the disallowance of loss on account of derivative trading, emphasizing that the Assessing Officer's rejection of losses incurred in derivative business was unjustified. The appeal by the revenue on disallowance under section 14A read with Rule 8D was dismissed as no exempt income was earned during the year, in line with previous court judgments. The general ground of the revenue's appeal was also dismissed. The judgment was delivered on December 12, 2018, in Kolkata. en-us Wed, 12 Dec 2018 00:00:00 +0530 Thu, 20 Dec 2018 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372297 The Tribunal upheld the CIT(A)'s decision regarding the disallowance of loss on account of derivative trading, emphasizing that the Assessing Officer's rejection of losses incurred in derivative business was unjustified. The appeal by the revenue on disallowance under section 14A read with Rule 8D was dismissed as no exempt income was earned during the year, in line with previous court judgments. The general ground of the revenue's appeal was also dismissed. The judgment was delivered on December 12, 2018, in Kolkata. Case-Laws Income Tax Wed, 12 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372297