Thursday 14 January 2016

Trading in derivate can't be held as speculative if co. has only income from other sources

IT : Where assessee during year earned dividend income and interest income and it claimed set off of loss arising out of trading in Futures and Options/derivatives against other income, assessee's case would fall within purview of exception carved out in Explanation to section 73 and, therefore, it was entitled to set off of loss against other income

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