https://www.taxtmi.com/caselaws?id=284470 The tribunal determined that profits from forward contracts were classified as speculative income and not eligible for deductions under section 10B of the Income-tax Act, 1961. The Assessing Officer's decision was upheld, overturning the CIT(A)'s ruling that had allowed for the deduction. The revenue's appeal was successful, resulting in the profits from forward contracts being deemed speculative and not qualifying for section 10B deductions. en-us Fri, 07 Aug 2009 00:00:00 +0530 Sun, 03 Sep 2023 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284470 The tribunal determined that profits from forward contracts were classified as speculative income and not eligible for deductions under section 10B of the Income-tax Act, 1961. The Assessing Officer's decision was upheld, overturning the CIT(A)'s ruling that had allowed for the deduction. The revenue's appeal was successful, resulting in the profits from forward contracts being deemed speculative and not qualifying for section 10B deductions. Case-Laws Income Tax Fri, 07 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284470