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Unrecognized Stock Trading: Speculative Income Allows Offsetting and Carry Forward of Speculative Losses.

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....Since assessee was trading at un-recognised stock exchange, therefore, income arising out of trading of commodities at such unrecognized stock exchange also amounts to speculation income, therefore, there is nothing wrong for allowing set off speculation loss against speculation income and for carry forward of unabsorbed speculative loss to be set off against the future speculation income - AT....

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