Assessee's claim for exceptional losses disallowed; clients bear losses from Options Maxima Scheme trades, not the assessee.

Assessee's claim for exceptional losses disallowed; clients bear losses from Options Maxima Scheme trades, not the assessee. https://www.taxtmi.com/highlights?id=65760 Disallowance of assessee's claim of exceptional losses on account of certain trades - Actually if there is any loss incurred on the said transaction, the same shall have to be borne only by the clients. - Merely because those clients had been sourced or referred by assessee to ABML, the losses of those clients cannot be shifted by ABML to assessee - the loss of clients incurred under Options Maxima Scheme claimed by the assessee in its return is not allowable - AT en-us Thu, 22 Sep 2022 18:35:06 +0530 Thu, 22 Sep 2022 18:35:06 +0530 TaxTMI RSS Generator Assessee's claim for exceptional losses disallowed; clients bear losses from Options Maxima Scheme trades, not the assessee. https://www.taxtmi.com/highlights?id=65760 Disallowance of assessee's claim of exceptional losses on account of certain trades - Actually if there is any loss incurred on the said transaction, the same shall have to be borne only by the clients. - Merely because those clients had been sourced or referred by assessee to ABML, the losses of those clients cannot be shifted by ABML to assessee - the loss of clients incurred under Options Maxima Scheme claimed by the assessee in its return is not allowable - AT Highlights Income Tax Thu, 22 Sep 2022 18:35:06 +0530 https://www.taxtmi.com/highlights?id=65760