https://www.taxtmi.com/caselaws?id=422117 The court ruled in favor of the appellant, holding that transactions in derivatives on recognized stock exchanges should not be classified as speculative under Section 43(5)(d) of the Income Tax Act. The court allowed the set-off of losses from derivative transactions against income from the infrastructure business under Section 70. The Tribunal's decision to treat the transactions as speculative and deny the set-off was deemed incorrect. The appeal was allowed, and the appellant was entitled to the set-off, with substantial questions of law answered in favor of the appellant. en-us Fri, 06 May 2022 00:00:00 +0530 Fri, 24 Jun 2022 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422117 The court ruled in favor of the appellant, holding that transactions in derivatives on recognized stock exchanges should not be classified as speculative under Section 43(5)(d) of the Income Tax Act. The court allowed the set-off of losses from derivative transactions against income from the infrastructure business under Section 70. The Tribunal's decision to treat the transactions as speculative and deny the set-off was deemed incorrect. The appeal was allowed, and the appellant was entitled to the set-off, with substantial questions of law answered in favor of the appellant. Case-Laws Income Tax Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422117