https://www.taxtmi.com/caselaws?id=462231 The Gujarat HC admitted an appeal regarding NSEL transaction losses where the assessee conducted transactions without physical delivery. The ITAT had concluded losses were not speculative as finance was for business purposes, but the HC found this concurrent finding required consideration. The HC dismissed the question on transaction charges disallowance, upholding ITAT's finding that charges represented additional business costs. On depreciation, the HC directed the AO to allow full rate depreciation on plant ready for use on 27.09.2010, confirming the assessee's entitlement based on established judicial precedents. en-us Mon, 21 Aug 2023 00:00:00 +0530 Mon, 02 Jun 2025 19:15:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462231 The Gujarat HC admitted an appeal regarding NSEL transaction losses where the assessee conducted transactions without physical delivery. The ITAT had concluded losses were not speculative as finance was for business purposes, but the HC found this concurrent finding required consideration. The HC dismissed the question on transaction charges disallowance, upholding ITAT's finding that charges represented additional business costs. On depreciation, the HC directed the AO to allow full rate depreciation on plant ready for use on 27.09.2010, confirming the assessee's entitlement based on established judicial precedents. Case-Laws Income Tax Mon, 21 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462231