https://www.taxtmi.com/caselaws?id=303126 The Appellate Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision to treat business loss from Future & Option (F & O) of Derivatives as speculation loss under section 73(1) of the Income Tax Act. The Tribunal held that F & O transactions should be considered normal business income/loss under section 43(5) of the Act, not speculative. Relying on a Co-ordinate Bench precedent, the Tribunal emphasized that losses from derivative transactions not involving shares are not speculative losses, ultimately ruling in favor of the assessee. en-us Thu, 12 Mar 2020 00:00:00 +0530 Wed, 06 Jul 2022 00:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303126 The Appellate Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision to treat business loss from Future & Option (F & O) of Derivatives as speculation loss under section 73(1) of the Income Tax Act. The Tribunal held that F & O transactions should be considered normal business income/loss under section 43(5) of the Act, not speculative. Relying on a Co-ordinate Bench precedent, the Tribunal emphasized that losses from derivative transactions not involving shares are not speculative losses, ultimately ruling in favor of the assessee. Case-Laws Income Tax Thu, 12 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303126