https://www.taxtmi.com/caselaws?id=422694 Loss from an eligible commodity derivatives transaction executed through a recognised association and chargeable to commodities transaction tax is treated as non-speculative under clause (e) of the first proviso to section 43(5) of the Income-tax Act, 1961. Because the loss did not arise from speculation business, it could be set off against other income under section 70(1), and section 73(1) did not apply. The stated operative consequence is that such commodity derivative trading loss is allowable against business income. en-us Wed, 18 May 2022 00:00:00 +0530 Fri, 20 May 2022 09:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422694 Loss from an eligible commodity derivatives transaction executed through a recognised association and chargeable to commodities transaction tax is treated as non-speculative under clause (e) of the first proviso to section 43(5) of the Income-tax Act, 1961. Because the loss did not arise from speculation business, it could be set off against other income under section 70(1), and section 73(1) did not apply. The stated operative consequence is that such commodity derivative trading loss is allowable against business income. Case-Laws Income Tax Wed, 18 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422694