https://www.taxtmi.com/caselaws?id=794998 Derivative transactions on a recognised stock exchange that qualify under Section 43(5)(d) are not purchases and sales of shares for the Explanation to Section 73; resulting losses are therefore treated as business losses rather than speculative losses. Expense allocation to share-trading activity requires a proper basis, with only a substantiated attributable portion retained. Section 14A read with Rule 8D does not permit disallowance where no exempt income is earned, and any disallowance cannot exceed exempt income. The notes state that the derivative-loss addition and unsubstantiated expense allocation were deleted, while the supported share-trading-related amount was retained. en-us Fri, 10 Jul 2026 00:00:00 +0530 Wed, 15 Jul 2026 08:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794998 Derivative transactions on a recognised stock exchange that qualify under Section 43(5)(d) are not purchases and sales of shares for the Explanation to Section 73; resulting losses are therefore treated as business losses rather than speculative losses. Expense allocation to share-trading activity requires a proper basis, with only a substantiated attributable portion retained. Section 14A read with Rule 8D does not permit disallowance where no exempt income is earned, and any disallowance cannot exceed exempt income. The notes state that the derivative-loss addition and unsubstantiated expense allocation were deleted, while the supported share-trading-related amount was retained. Case-Laws Income Tax Fri, 10 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794998