https://www.taxtmi.com/caselaws?id=389090 The Appellate Tribunal ITAT Kolkata determined that speculation loss in delivery-based share transactions does not automatically fall under Explanation to Section 73 of the Income Tax Act. The Tribunal emphasized the need to aggregate share trading loss and profit from derivative transactions before applying the Explanation, leading to the decision that the Explanation did not apply in this case due to a surplus profit post-aggregation. Consequently, the assessee's appeal was allowed, and the matter was referred to the regular Bench for further action in accordance with the law. en-us Wed, 13 Nov 2019 00:00:00 +0530 Fri, 29 Nov 2019 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389090 The Appellate Tribunal ITAT Kolkata determined that speculation loss in delivery-based share transactions does not automatically fall under Explanation to Section 73 of the Income Tax Act. The Tribunal emphasized the need to aggregate share trading loss and profit from derivative transactions before applying the Explanation, leading to the decision that the Explanation did not apply in this case due to a surplus profit post-aggregation. Consequently, the assessee's appeal was allowed, and the matter was referred to the regular Bench for further action in accordance with the law. Case-Laws Income Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389090