ITAT deletes estimated addition for alleged payment of margin monies

Kulvinder Nath Marwah Vs ACIT (ITAT Delhi)

The recent appeal of Kulvinder Nath Marwah against the Assistant Commissioner of Income Tax (ACIT) before the Income Tax Appellate Tribunal (ITAT) Delhi revolves around the disallowance of derivative loss. The appeal challenges the order dated 20/11/2018 of the Learned Commissioner of Income Tax (Appeals) [Ld. CIT(A)], which upheld the disallowance made by the Assistant Commissioner of Income Tax, Circle-29(1), New Delhi (Ld. AO) for the Assessment Year 2014-15.

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