https://www.taxtmi.com/caselaws?id=795140 Derivative-trading losses were treated as non-genuine where options were acquired shortly before expiry and allowed to lapse in nearly every transaction, and the broker admitted involvement in organised premeditated trades designed to generate artificial losses. Contract notes, registered-broker execution and banking-channel payments did not independently establish genuineness after the Revenue's investigation shifted the evidentiary burden to the assessee. The notes state that the assessee failed to provide cogent rebuttal material, including broker evidence, and that cross-examination was not an absolute right in these circumstances. The claimed derivative loss was therefore disallowed. en-us Tue, 14 Jul 2026 00:00:00 +0530 Fri, 17 Jul 2026 08:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795140 Derivative-trading losses were treated as non-genuine where options were acquired shortly before expiry and allowed to lapse in nearly every transaction, and the broker admitted involvement in organised premeditated trades designed to generate artificial losses. Contract notes, registered-broker execution and banking-channel payments did not independently establish genuineness after the Revenue's investigation shifted the evidentiary burden to the assessee. The notes state that the assessee failed to provide cogent rebuttal material, including broker evidence, and that cross-examination was not an absolute right in these circumstances. The claimed derivative loss was therefore disallowed. Case-Laws Income Tax Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795140