Disallowance of loss of trading in commodity exchange - set off ...

Income Tax

June 27, 2019

Disallowance of loss of trading in commodity exchange - set off of loss - there is no finding by both the lower authorities challenging the genuineness of the commodity trading transactions entered during the year - It is true that it has been disclosed under head income from other source but according to Section 71(1) of the Act assessee is entitled to set off from income under the head Business & profession and income from other sources

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Disallowance of loss of trading in commodity exchange - set off ...

Income Tax

June 27, 2019

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