https://www.taxtmi.com/caselaws?id=377444 The ITAT upheld the Ld. CIT(A)'s order allowing set off of unaccounted loss against business income in derivative trading, restricting the addition to Rs. 1,76,525. It also directed the AO to delete disallowance related to STT paid on derivatives trading under section 14A read with Rule 8D, while confirming the disallowance under Rule 8D(2)(iii) for calculating expenses. The ITAT dismissed the Revenue's appeal and allowed the assessee's Rule 27 application, emphasizing a fair and reasonable approach in line with legal principles. en-us Wed, 27 Mar 2019 00:00:00 +0530 Fri, 29 Mar 2019 09:04:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377444 The ITAT upheld the Ld. CIT(A)'s order allowing set off of unaccounted loss against business income in derivative trading, restricting the addition to Rs. 1,76,525. It also directed the AO to delete disallowance related to STT paid on derivatives trading under section 14A read with Rule 8D, while confirming the disallowance under Rule 8D(2)(iii) for calculating expenses. The ITAT dismissed the Revenue's appeal and allowed the assessee's Rule 27 application, emphasizing a fair and reasonable approach in line with legal principles. Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377444