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 November 2011 Year 2011 This

Set off of loss suffered on sale and purchase of shares - even ...

Income Tax

November 19, 2011

Set off of loss suffered on sale and purchase of shares - even business loss in speculative transactions cannot be set off against other business income or income from other sources, except as may be expressly provided.... - HC

View Source

 


 

You may also like:

  1. Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

  2. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

  3. Revision u/s 263 - set off of loss in speculation business against business income - In the present case, the principle business of the assessee is trading in shares....

  4. The activity of purchase and sale of shares carried out with assessee for the purpose of section 73 is a speculation business activity and, accordingly, the loss...

  5. Disallowance of set-off u/s 70 of share trading business loss against income from profession - the assessee has been able to substantiate that the shares were purchased...

  6. Addition u/s 43(5) - Loss in commodity derivatives trading business was non-speculative - Reading clause (e) of the first proviso to section 43(5), and sections 70(1)...

  7. Set off of speculative losses u/s 73 - reassessment - the petitioner is entitled to set off the losses from sale and purchase of the share in the profits of the business...

  8. Valuation loss treated as speculation loss - It is a fact that shares traded by the assessee were not of any of the good companies. The assessee had in the normal course...

  9. Revision u/s 263 by CIT - set off of the brought forward "non-speculative business loss" against the "profit of speculative business" - provisions of section 72 and 73,...

  10. Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

  11. Assessment of Business loss in Share trading as capital gains - set off of Brought forward business losses - assessee is engaged in the business of share trading and...

  12. Loss incurred by the assessee in purchase and sale of shares - Whether a business loss or speculation loss? - In case, the assessee has earned profit from share trading...

  13. Disallowance of set off of Loss - sale of equity shares (STT) - short-term capital gains (STCG) on sale of derivatives and short-term capital loss (STCL) - The Tribunal...

  14. Set off of unabsorbed business loss - set off against Short Term Capital Gain U/s. 50 - income arising out of a sale of business asset though not taxable as profits and...

  15. Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges...

 

Quick Updates:Latest Updates