https://www.taxtmi.com/caselaws?id=795994 Dealing-error loss incurred by a share broker was treated as an allowable business loss where reassessment, after detailed verification, accepted it as genuine and arising in the ordinary course of broking business; consistency supported that treatment. Proprietary securities-trading loss was also characterised as realised rather than notional because contract notes, global reports and transaction-wise records established that derivative transactions were squared off during the relevant financial year. Compulsory cash settlement further confirmed that no open contract remained. The notes state that substantiated contemporaneous evidence of completed transactions and realised loss prevails over a mistaken description of the position. en-us Wed, 15 Jul 2026 00:00:00 +0530 Thu, 30 Jul 2026 08:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795994 Dealing-error loss incurred by a share broker was treated as an allowable business loss where reassessment, after detailed verification, accepted it as genuine and arising in the ordinary course of broking business; consistency supported that treatment. Proprietary securities-trading loss was also characterised as realised rather than notional because contract notes, global reports and transaction-wise records established that derivative transactions were squared off during the relevant financial year. Compulsory cash settlement further confirmed that no open contract remained. The notes state that substantiated contemporaneous evidence of completed transactions and realised loss prevails over a mistaken description of the position. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795994