Thursday, 1 August 2013

Sum incurred on speculative and non-speculative activities to be charged to income earned from such

IT: Where assessee was engaged in business of trading of shares, gold bullion and commodities and it claimed deduction of administrative and other expenses, which were relatable to both speculative and non-speculative activities, bifurcation of said expenses in ratio of 2:3 between speculative and non-speculative income was justified


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