If the loss is found to have occurred on account of error trade ...

Income Tax

August 4, 2017

If the loss is found to have occurred on account of error trade conducted by assessee on behalf of clients, then the claim will have to be accepted as business loss. - HC

View Source

← Previous Next →

If the loss is found to have occurred on account of error trade ...

Income Tax

August 4, 2017

You may also like:

Disallowance on account of loss on error trade - due to human error in punching the wrong scrip code, or punching of wrong quantity or in punching buy order in place of...

Penalty u/s 271(1)(c)- additions u/s 68 - the contention of the assessee cannot be straightway rejected that such error may occur due to software problem - AT

Disallowance on account of bad debt/trading loss - the assessee is eligible for the deduction of the amount embezzled by the employee as a trading loss.

CENVAT Credit - duty paying documents - while mentioning the vehicle number, the clerical error has occurred - credit cannot be denied - demand set aside.

MAT - AO had committed an error in redrawing the profit and loss account by making changes by adding depreciation debited to profit and loss account by the assessee,...

Disallowing of loss on shares - method of valuation of shares at cost or market price - Since the assessee has himself treated the same as investment, no trading loss...

Provision towards fraud – the incident which resulted in irregularities/embezzlement occurred during the previous year – thus, the loss has to be held to have...

Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

Appeal by revenue - low tax effect - even loss claimed by assessee for a particular year assumes considerable significance in variety of situations - Tribunal committed...

Claim of fictitious loss which reduced the profit - derivative trading - It is found by the authorities that the script wise details of the derivative trading that the...

Quick Updates: