Case Law Details
Case Name : CIT Vs Baljit Securities (P) Ltd. (Calcutta High Court)
Related Assessment Year :
Courts :
All High Courts Calcutta High Court
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
CA Sandeep Kanoi
The assessee basically is a share broker. The assessee also deals in buying and selling of shares for himself. The assessee is also dealing in derivatives. Dealing in derivatives has been excluded from the ambit of speculative transactions with effect from assessment year 2006-07. We are concerned with the assessment year 2005-06. The question arose whether the assessee was entitled to set off the loss arising out of business in derivatives against the income arising out of purchase and sale of shares. The question basically was as regards the meaning of the expression “spec...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Thanks Sandeepji for the wonderful insights and fresh perspective into the subject matter.
Is this order applicable for individuals doing Intraday Equity trading? Can they set off losses in Intraday Equity trading (non-delivery based) with profits of Share trading (delivery based).
What if the individuals also have other income HP, Salary etc?
Raj