Case Law Details
Case Name : Shree Capital Services Ltd. Vs ACIT (ITAT Kolkata)
Related Assessment Year :
Courts :
All ITAT ITAT Kolkata
RELEVANT PARAGRAPH
5.1. Section 43(5), as it stood during assessment year under consideration, i.e. AY 2004-05, reads as under :-
“5) “speculative transaction” means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scripts:
Provided that for the purposes of this clause-
(a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to g...
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