https://www.taxtmi.com/caselaws?id=413449 Consistent valuation of equity shares and equity stock futures at lower of cost or market value was accepted as producing an allowable trading loss. The Tribunal held that CBDT Instruction No. 3/2010, dealing with forex derivatives, could not be applied to closing stock valuation of equity shares. It also treated mark-to-market loss on outstanding equity derivative positions as a real business loss where the method had been regularly followed and accepted in earlier years. The disallowances were therefore not sustained, and the appellate relief to the assessee was affirmed. en-us Wed, 29 Sep 2021 00:00:00 +0530 Mon, 11 Oct 2021 08:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413449 Consistent valuation of equity shares and equity stock futures at lower of cost or market value was accepted as producing an allowable trading loss. The Tribunal held that CBDT Instruction No. 3/2010, dealing with forex derivatives, could not be applied to closing stock valuation of equity shares. It also treated mark-to-market loss on outstanding equity derivative positions as a real business loss where the method had been regularly followed and accepted in earlier years. The disallowances were therefore not sustained, and the appellate relief to the assessee was affirmed. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413449