https://www.taxtmi.com/caselaws?id=425181 The ITAT ruled in favor of the assessee, allowing the appeal and determining that the loss from Futures and Derivatives should not be treated as speculative under Explanation to Section 73 of the Income Tax Act, 1961. The decision was based on the ITAT's precedent in Mars Associates Pvt. Ltd. vs. DCIT and the Supreme Court's ruling in Snowtex Investment Ltd., overturning the CIT (A)'s confirmation of the speculative loss addition. en-us Thu, 14 Jul 2022 00:00:00 +0530 Fri, 15 Jul 2022 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425181 The ITAT ruled in favor of the assessee, allowing the appeal and determining that the loss from Futures and Derivatives should not be treated as speculative under Explanation to Section 73 of the Income Tax Act, 1961. The decision was based on the ITAT's precedent in Mars Associates Pvt. Ltd. vs. DCIT and the Supreme Court's ruling in Snowtex Investment Ltd., overturning the CIT (A)'s confirmation of the speculative loss addition. Case-Laws Income Tax Thu, 14 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425181