Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2024 Year 2024 This

Nature of loss - commodities transactions - Addition made u/s ...

Income Tax

January 19, 2024

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 by the Assessee were not non-speculative in nature and thereby discarded the incorrect bifurcation made by the Assessing Officer and allowed the set off of loss - AT

View Source

 


 

You may also like:

  1. Trading on MCX - Speculative loss - set off against the business income - section 43(5)(c) - the transactions in nature of jobbing not to be treated as speculative...

  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. Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

  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. Speculative loss or not - Set off and carry forward of loss arising from derivative transactions in currency segment - In essence, an 'eligible transaction' [as defined...

  6. Speculative transactions - set off of the loss - transaction in derivatives on recognized stock exchange as defined under Section 43 (5) (d) of the Income Tax Act, 1961...

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

  8. Revision u/s 263 - speculative loss in view of Section 43(5) - transactions were duly backed by contract notes, transactions were entered into by account payee cheque....

  9. Loss suffered by a company in share transactions is to be treated as a speculative loss within the meaning of s. 73, notwithstanding the fact that there was actual...

  10. Allowance of loss arising on cancellation of contract due to price fluctuation where no actual delivery of cotton commodity - treating a loss to be speculative in nature...

 

Quick Updates:Latest Updates