https://www.taxtmi.com/caselaws?id=469888 Commodity-trading loss through NSEL was treated as allowable business loss where the transactions were undertaken through registered brokers in the ordinary course of business and the amount was written off as irrecoverable in the accounts; after the bad debt amendment, actual proof of irrecoverability was not required. The commodity derivatives were also held not to be speculative because they fell within the statutory exception for eligible derivative transactions on a recognised platform. The revenue appeal therefore failed and the first appellate relief was sustained. en-us Thu, 19 Jan 2023 00:00:00 +0530 Wed, 08 Jul 2026 14:46:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469888 Commodity-trading loss through NSEL was treated as allowable business loss where the transactions were undertaken through registered brokers in the ordinary course of business and the amount was written off as irrecoverable in the accounts; after the bad debt amendment, actual proof of irrecoverability was not required. The commodity derivatives were also held not to be speculative because they fell within the statutory exception for eligible derivative transactions on a recognised platform. The revenue appeal therefore failed and the first appellate relief was sustained. Case-Laws Income Tax Thu, 19 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469888