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Income Tax - Highlights / Catch Notes

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Nature of loss - "business loss" or "speculative ...

Income Tax

Nature of loss - "business loss" or "speculative transactions" - what is "hedging transaction" and when it can be a "speculative transaction"? - safeguard against loss through price fluctuation in respect of the contract for actual delivery of the goods manufactured - allowed as business loss - HC

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  2. When the speculative transactions were covered under sec.43(5) of the Act and the loss incurred in those transactions was liable to treated as speculative loss and not...

  3. Hedging loss - Since the transaction is relating to acquisition of fixed assets and the profit or loss to be treated in capital field and it cannot be in Revenue in nature - AT

  4. Premium expense on hedging contract - speculative transaction or not - the provisions of section 43(5) of the Act are clearly not attracted.

  5. Loss on commodity transactions is a normal business loss and allowed to be set off against the speculative income - AT

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

  7. Speculative loss - trading transactions on NSEL platform - For the purpose of carrying out transaction with NSEL they use to keep 3.5% of the value of the transaction as...

  8. Assessee has rightly claimed short term capital loss which is eligible to be set off against long term capital gain and the impugned transaction is neither “sham” nor...

  9. Foreign exchange hedging loss - AO has failed to bring any material evidence on record to support its stand that the loss suffered by the Assessee was speculative loss - AT

  10. Nature of loss - commodities transactions - Addition made u/s 43(5) - speculative loss or business loss - CIT(A) rightly concluded that all the transactions undertaken...

 

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