https://www.taxtmi.com/highlights?id=54941 Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges and such business needs to be considered as one business for the purpose of taxation and any profit or loss derived from different exchanges shall be aggregated by allowing losses to be set off. - AO directed to delete additions made towards disallowances of loss incurred from NMCE, Ahmadabad and allowed said loss to be set off against profit derived from derivative trading on MCX. - AT en-us Mon, 28 Sep 2020 08:44:10 +0530 Mon, 28 Sep 2020 08:44:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54941 Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges and such business needs to be considered as one business for the purpose of taxation and any profit or loss derived from different exchanges shall be aggregated by allowing losses to be set off. - AO directed to delete additions made towards disallowances of loss incurred from NMCE, Ahmadabad and allowed said loss to be set off against profit derived from derivative trading on MCX. - AT Highlights Income Tax Mon, 28 Sep 2020 08:44:10 +0530 https://www.taxtmi.com/highlights?id=54941