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Income Tax - Highlights / Catch Notes

Home Highlights December 2015 Year 2015 This

Disallowance of set off being loss on account of trading in ...

Income Tax

December 10, 2015

Disallowance of set off being loss on account of trading in Futures and Options/derivatives against other income - the assessee was having the interest income as well as income from dividend, the set off being loss on account of trading in Futures and Options/derivatives against other income should be allowed - AT

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  1. 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...

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

  3. Transactions in derivatives on recognized stock exchange not as deemed speculative - the transaction carried in future and options (derivatives) are outside the purview...

  4. 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)...

  5. Set off of derivative loss against derivative profit - speculative loss or not - the derivative transaction is not supported or backed by deliverable commodity - The...

  6. Loss incurred by the assessee on F & O (Future and Options) derivative transactions - “speculative loss” or not - disallowing the set off of the said loss against other...

  7. Speculation Loss - Trading in future and options - the amendment cannot be held as curative in nature or for that reason has a retrospective effect - HC

  8. Loss on account of futures and options set off against the business profit - the entire transaction carried out by the assessee, indicated above, was within the umbrella...

  9. 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...

  10. Computation of their Turnover for the purpose of tax audit u/s 44AB - Speculation Business or Derivatives, futures, and options or Delivery based transactions

 

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