Rectification u/s 254: Assessee Challenges Contracts Classification as Speculative; Case Remanded for Further Review.

Rectification u/s 254 - assessee claimed that contract were not forward contracts by virtue of proviso clauses (a)&(b) to Section 43(5) - the earlier portion of the main impugned order specifically noticed the compilation of documents produced during the proceedings, which contained specific contracts and the transactions which the Revenue alleged were speculative - remanded to consider the contentions .....

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