Case Law Details
Case Name : Magic Share Traders Ltd. Vs DCIT (ITAT Ahemdabad)
Appeal Number : ITA No. 770/ahd/2016
Date of Judgement/Order : 31/10/2018
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Ahmedabad
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Magic Share Traders Ltd. Vs DCIT (ITAT Ahemdabad)
Conclusion: Since loss arising from derivative transactions were excluded from being regarded as speculative business under section 43(5)(d) as per Explanation to section 73, therefore, the loss incurred on account of derivatives was business loss and allowed to be set off against business income.
Held: Assessee company was engaged in the trading and investment in shares and securities, mutual funds and fut
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.