https://www.taxtmi.com/caselaws?id=470782 Commodity-trading losses require cogent evidence establishing genuine purchase-and-sale transactions, including sauda books, relevant trade-regulatory records, and proof of applicable fees or taxes. The notes state that insufficient evidence warrants fresh verification. Hedging exclusion from speculative treatment requires evidence of underlying actual-delivery commodity contracts and proof that the disputed contracts protected against price fluctuations in those delivery contracts. The Assessing Officer must also examine any arithmetical error in the disallowance. The disputed losses, transaction character, and computation require de novo adjudication after admitting evidence and providing adequate hearing. en-us Wed, 24 Feb 2016 00:00:00 +0530 Sat, 08 Aug 2026 10:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470782 Commodity-trading losses require cogent evidence establishing genuine purchase-and-sale transactions, including sauda books, relevant trade-regulatory records, and proof of applicable fees or taxes. The notes state that insufficient evidence warrants fresh verification. Hedging exclusion from speculative treatment requires evidence of underlying actual-delivery commodity contracts and proof that the disputed contracts protected against price fluctuations in those delivery contracts. The Assessing Officer must also examine any arithmetical error in the disallowance. The disputed losses, transaction character, and computation require de novo adjudication after admitting evidence and providing adequate hearing. Case-Laws Income Tax Wed, 24 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470782