Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home List
← Previous Next →

2018 (10) TMI 720

on the platform of recognized stock exchange which is in the realm of ‘eligible transaction’ and covered by the exceptions provided to Section 43(5)(d) of the Act. In view of the provisions of Section 43(5)(d) of the Act read with Section 2 of Securities Contracts (Regulation) Act, 1956, such derivative transactions of the nature of currency futures are to be excluded from the ambit of the specula .....

X X X X X X X

Full Text of the Document

X X X X X X X

nt year 2012- 13. 2. The grounds of appeal raised by the Revenue reads as under:- That the ld. CIT(A) erred in law and on facts in deleting the addition of ₹ 74,18,448/- made on account of disallowance of speculation loss. 3. Briefly stated, the assessee, a domestic company, is engaged in the business of trading in commodities like gold, silver, bullion etc. and shares as well as carried out .....

X X X X X X X

Full Text of the Document

X X X X X X X

per Clause (d) to Section 43(5) of the Act. The relevant operative part of the order of the CIT(A) reads as under: 5.5 I have gone through the facts of the case, findings of A.O. in assessment order, submissions of the appellant and provisions of section 43(5) of the Act. The A.O. as per provisions of sub-section (5) of section 43 of the Act treated transaction in which contract for purchase or sa .....

X X X X X X X

Full Text of the Document

X X X X X X X

bunals and Courts, where it is held that the derivatives include foreign currency and call option/put option are transactions of derivative markets cannot be termed as speculative in nature, as held by Mumbai Tribunal in the case of IVF Advisors Pvt. vs. ACIT (supra). Going through the provisions of the Act u/s. 43(5)(d) and decisions of the Tribunals and Courts, the currency derivative transactio .....

X X X X X X X

Full Text of the Document

X X X X X X X

nized stock exchange which is in the realm of eligible transaction and covered by the exceptions provided to Section 43(5)(d) of the Act. In view of the provisions of Section 43(5)(d) of the Act read with Section 2 of Securities Contracts (Regulation) Act, 1956, such derivative transactions of the nature of currency futures are to be excluded from the ambit of the speculative transactions. Consequ .....

X X X X X X X

Full Text of the Document

X X X X X X X

 

 

← Previous Next →

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||