https://www.taxtmi.com/caselaws?id=298102 Year-end mark-to-market loss on outstanding equity derivatives, valued at the lower of cost or market value, was treated as an ascertained trading loss and allowed as a deduction; the disallowance was deleted. Commission paid to working directors, being part of the remuneration package and in substance salary, was not hit by section 40(a)(ia) because that provision does not apply to salary payments; the Revenue's challenge therefore failed. en-us Mon, 18 Dec 2017 00:00:00 +0530 Sun, 10 Oct 2021 16:28:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298102 Year-end mark-to-market loss on outstanding equity derivatives, valued at the lower of cost or market value, was treated as an ascertained trading loss and allowed as a deduction; the disallowance was deleted. Commission paid to working directors, being part of the remuneration package and in substance salary, was not hit by section 40(a)(ia) because that provision does not apply to salary payments; the Revenue's challenge therefore failed. Case-Laws Income Tax Mon, 18 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298102