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Derivative transaction entered prior to notification defining Recognised Exchanges is also eligible to be treated as non speculative transaction
Case Law Details
- Case Name
- ACIT Vs Hiren Jaswantrai Shah (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006- 07
- Courts
- ITAT Ahmedabad
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ACIT Vs Hiren Jaswantrai Shah (ITAT Ahmedabad)- Derivative transactions carried out through stock exchanges from 1 April 2005 to 25 January 2006, which are recognised by the notification issued by the CBDT on 25 January 2006, would be eligible for being treated as non-speculative transactions within the meaning of clause (d) of proviso to s 43(5) and, accordingly, are available for set-off against regular business income.
ACIT Vs Hiren Jaswantrai Shah
ITAT, Ahmedabad
ITA No. 3361 (Ahd.) of 2009
Assessment Year: 2006- 07
O R D E R
Per D.C. Agrawal, Accountant Member.
This is a...
