Derivative Transaction Loss is not Speculation Loss & can be adjusted against Business Income

M/s. Sucon India Ltd Vs JCIT (ITAT Delhi) Loss suffered by assessee on derivative transaction is not speculative loss and as such eligible to be adjusted against business income and Explanation 73 of the Income Tax Act is not attracted. FULL TEXT OF THE ITAT JUDGMENT Appellant, M/s. Sucon India Ltd. (hereinafter referred to as the assessed), by filing present appeal sought to set aside the impugned order dated 06.10.2015 passed by the Ld. Commissioner of Income Tax (Appeals)-Faridabad qua the assessment year 2012-13 on the grounds inter alia that :- “1. That having regard to the facts and ci...