Currency derivative transactions are not speculative transaction- Section 43(5)

Vinay Prakash (HUF) Vs ACIT (ITAT Delhi)

Trading of currency derivatives are covered by definition of ‘derivatives’ and excluded from the ambits of speculative transactions defined under Section 43(5) of Income Tax Act, 1961.

The solitary issue confronted in the present appeal is on treatment of loss arising from derivative transactions in currency segment in the matter of set off and carry forward. It is the case of the assessee that it has entered into derivatives tr

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