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Income Tax - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

Denial of benefit of set off of the speculation loss - ...

Income Tax

October 10, 2015

Denial of benefit of set off of the speculation loss - explanation to section 73 - the assessee is entitled for the set off of the impugned amount of amount of loss brought forward from assessment year 2001-02 - AT

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  1. Set-off of losses in share trading - The assessee would not be deemed to be carrying on a speculation business for the purpose of section 73(1) - HC

  2. 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...

  3. Set off of speculation loss against the profit earned by the assessee from delivery based transactions - the assessee would be entitled to set off this speculation loss...

  4. Losses incurred by the assessee from F & O operations - Speculation loss or business loss - Loss incurred on account of derivatives would be deemed business loss under...

  5. Speculation or non speculation loss (Business Loss) - loss incurred on futures and options (derivative transactions) - Section 43(5)(d) of the Act should have to be...

  6. Disallowance of speculation loss - Explanation to Section 73 would apply even when entire business consists of purchase and sale of shares. - AT

  7. Set off of loss - speculation loss or not - loss (on account of sale of derivatives) would be allowed to be set off against income arising out of proper business because...

  8. 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...

  9. Disallowance of set-off loss on derivative trading - can not be held as loss from speculation business, simply because procedural mechanism has taken a long time to...

  10. Since assessee was trading at un-recognised stock exchange, therefore, income arising out of trading of commodities at such unrecognized stock exchange also amounts to...

 

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