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2019 (7) TMI 1542 - AT - Income TaxTreating the “loss of gold desk account” as speculative loss - HELD THAT:- During the hearing for the assessment year 2012-13 ,both the representatives have argued that the matter be remanded back to the file of the AO to examine the issue afresh in the light of judgment of the Hon’ble High Court for the assessment year 2010-11 [2019 (7) TMI 669 - DELHI HIGH COURT] . Hence, we hereby direct the AO to verify the transactions and correlate the same with the specific contracts. The AO is also directed to consider the order off the Hon’ble High Court of Delhi and to consider the forward contracts with relation to the provision to Clause (a) and (b) to Section 43(5) of the Income Tax Act, 1961 in accordance with the provisions of the Income Tax Act.
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