Rebate u/s 88E is allowable from the business income be it speculative or not

Brief of the Case: In the cited case, ITAT inter-alia held that the claim has been denied merely because the AO has treated the transaction as speculative loss. This cannot be any reason for declining the claim of rebate u/s. 88E of the Act as the claim is allowable from the business income be it speculative or not.

Facts of the Case: The assessee deals in share and security. While scrutinizing the ITR, the AO noticed that the assessee had incurred loss from trading in securities/shares as und

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