2019 (11) TMI 1339

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..... concurred with the findings of ld. Accountant Member observing that the Explanation to Section 73 does not differentiate between delivery based transactions and derivative transactions in F O segment and the same applies to the entire business of purchase and sale of shares, whether such trading is delivery based or non-delivery based, whether there is profit or loss from such business. .....

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..... Saini, AM For the Appellant : Shri Dilip Kumar Patni, FCA For the Respondent : Shri Supriyo Pal, JCIT, Sr. DR ORDER PER DR. A. L. SAINI, AM: Since there was a difference of opinion between the ld. Members constituting the Division Bench of ITAT, Kolkata with regard to the following questions, the matter .....

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..... ition that emanates from the judicial pronouncements discussed above thus is that the Explanation to Section 73 does not differentiate between delivery based transactions and derivative transactions in F O segment and the same applies to the entire business of purchase and sale of shares, whether such trading is delivery based or non-delivery based, whether there is profit or loss from such .....

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