https://www.taxtmi.com/caselaws?id=472638 Eligible security-derivative transactions conducted through recognised stock exchanges are excluded from speculative treatment under section 43(5). Their business or investment character depends on transaction frequency and volume, holding pattern, settlement terms, accounting treatment and the manner of dealing. Frequent, high-volume, non-delivery derivative trades supported by separate ledgers and audit records support treatment as business activity, permitting set-off of resulting losses against commodity-derivative business income. Section 14A applies only where expenditure relating to exempt income is claimed against taxable income. Where investment-related expenditure is capitalised and no borrowed funds or interest expenditure exist, Rule 8D(2) lacks a factual basis for disallowance. en-us Tue, 22 Apr 2025 00:00:00 +0530 Mon, 19 Oct 2026 19:03:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472638 Eligible security-derivative transactions conducted through recognised stock exchanges are excluded from speculative treatment under section 43(5). Their business or investment character depends on transaction frequency and volume, holding pattern, settlement terms, accounting treatment and the manner of dealing. Frequent, high-volume, non-delivery derivative trades supported by separate ledgers and audit records support treatment as business activity, permitting set-off of resulting losses against commodity-derivative business income. Section 14A applies only where expenditure relating to exempt income is claimed against taxable income. Where investment-related expenditure is capitalised and no borrowed funds or interest expenditure exist, Rule 8D(2) lacks a factual basis for disallowance. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472638