https://www.taxtmi.com/caselaws?id=783001 ITAT Kolkata allowed the assessee's appeal and deleted the addition disallowing BSE F&O and currency derivative losses. The AO and CIT(A) had relied on an ex parte ad-interim SEBI order, which stood set aside and thus had no binding force, demolishing the foundation of the addition. The subsequent SEBI final order pertained to National Spot Exchange Limited and was held inapplicable to transactions on the Bombay Stock Exchange platform. The Tribunal noted that the assessee had produced complete documentary evidence (contract notes, bank statements, broker accounts) and that there is no legal bar on executing trades through another broker. The losses were directed to be allowed/set off. en-us Wed, 03 Dec 2025 00:00:00 +0530 Mon, 08 Dec 2025 08:31:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783001 ITAT Kolkata allowed the assessee's appeal and deleted the addition disallowing BSE F&O and currency derivative losses. The AO and CIT(A) had relied on an ex parte ad-interim SEBI order, which stood set aside and thus had no binding force, demolishing the foundation of the addition. The subsequent SEBI final order pertained to National Spot Exchange Limited and was held inapplicable to transactions on the Bombay Stock Exchange platform. The Tribunal noted that the assessee had produced complete documentary evidence (contract notes, bank statements, broker accounts) and that there is no legal bar on executing trades through another broker. The losses were directed to be allowed/set off. Case-Laws Income Tax Wed, 03 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783001