Derivative by itself cannot be termed as an investment or stock in trade

IN THE ITAT AHMEDABAD BENCH ‘B’ Mask Investment Ltd. v/s. Assistant Commissioner of Income-tax (OSD)  IT Appeal No. 2380 (Ahd.) of 2009 [Assessment year 2006-07] June 22, 2012 ORDER A. Mohan Alankamony, Accountant Member – This appeal is filed by the assessee aggrieved by the order of learned CIT(A)-I in appeal No.I/213/08-09 dated 14/07/2009 for assessment year 2006-07 passed u/s 143(3) read with section 250 of the IT Act. 2. The assessee has raised three grounds and one additional ground in its appeal wherein ground No.3 is general in nature and does not s...