TMI BlogRevision u/s 263 - assessee had claimed losses on account of commodities - derivatives - speculation...Revision u/s 263 - assessee had claimed losses on account of commodities - derivatives - speculation loss or not - Transaction in question involved settlement otherwise than the actual delivery or transfer of any commodity - PCIT proceeded on a different angle which were not the materials based on which show cause notice was issued. Thus, a fundamental error has been committed by the PCIT by proceeding based upon certain alleged facts which were never brought on record at the time of issuance of..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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