https://www.taxtmi.com/caselaws?id=470782 Commodity-trading losses require cogent evidence establishing genuine purchase-and-sale transactions rather than accommodation entries, including sauda books, regulatory trade records, and proof of applicable fees or taxes. The taxpayer also must substantiate actual-delivery contracts in the relevant commodities and show that non-delivery contracts were entered into to hedge price-fluctuation risk in those contracts for exclusion from speculative-transaction treatment under section 43(5). Fresh adjudication is required where the existing evidentiary record is inconclusive, including determination of any arithmetical error in the disallowance after admitting evidence and providing an 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 rather than accommodation entries, including sauda books, regulatory trade records, and proof of applicable fees or taxes. The taxpayer also must substantiate actual-delivery contracts in the relevant commodities and show that non-delivery contracts were entered into to hedge price-fluctuation risk in those contracts for exclusion from speculative-transaction treatment under section 43(5). Fresh adjudication is required where the existing evidentiary record is inconclusive, including determination of any arithmetical error in the disallowance after admitting evidence and providing an adequate hearing. Case-Laws Income Tax Wed, 24 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470782