Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2014 Year 2014 This

Scope of Explanation to sec. 73 – the entire transaction carried ...

Case Laws     Income Tax

October 28, 2014

Scope of Explanation to sec. 73 – the entire transaction carried out by the assessee was within the umbrella of speculative transaction - There was no bar in setting off the loss arising out of derivatives from the income arising out of buying and selling of shares - AT

View Source

 


 

You may also like:

  1. Treatment of Losses as Speculative Losses - adjustment of loss under arbitrage transactions - The loss of one segment has to be allowed to be set-off against the other...

  2. The assessee had a dividend income (income from other sources). Thus the assessee fell within the purview of the exception carved out in the explanation to Section 73...

  3. Disallowance of speculative loss invoking the provisions of section 73 - if the gross total income of the assessee comprises of any or all the heads of income, then the...

  4. Setting off loss of share trading against income from service charges – Tribunal was justified, in holding that the assessee fell within the purview of the exception...

  5. Reopening of assessment - the reasons recorded for re-opening shows that the AO did not find any error in the explanation of the assessee for non-application of...

  6. Carry forward of losses u/s 73 - Speculative loss - Derivative transaction - Tribunal erred in law in holding that the assessee was entitled to carry forward its losses - HC

  7. Speculation loss u/s 73 - loss incurred on purchase and sale of shares in respect of delivery based transactions - the aggregation of the share trading loss and profit...

  8. Validity of reassessment proceedings - transactions of commodity/derivatives trading - How can the assessee be expected to prove the negative? The assessee could be...

  9. Loss on account of futures and options set off against the business profit - the entire transaction carried out by the assessee, indicated above, was within the umbrella...

  10. Speculation loss - purchase and sale of shares - provisions of Explanation to Sec. 73 will not be applied where the principal business of the assessee is that of...

  11. CIRP - Preferential Transactions or not - related transaction or not - Transaction within look bak period - such transactions are carried with intent to defraud...

  12. Explanation to section 73 - share trading - If the income declared u/s. 132(4) is considered to be “Income from other sources”, then the main income of assessee would...

  13. Explanation to section 73 only provides for a deeming fiction in certain circumstances where the assessee would be deemed to be carrying on a speculation business. Such...

  14. Loss suffered by a company in share transactions is to be treated as a speculative loss within the meaning of s. 73, notwithstanding the fact that there was actual...

  15. Addition made on account of short term capital gain - it is evident that the gross total income o the company consisted mainly of income which is chargeable under the...

 

Quick Updates:Latest Updates