Home Highlights November 2014 Year 2014 This

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1. Stock Loss in trading of wheat - genuine loss - CIT(A) failed to appreciate that delivery taken by the “Pakka Arhtias” in the capacity of agent of the assessee is to be...

2. Nature of loss from purchase and sale of share - speculation or non speculation loss - ITAT held that deployment of funds in the instant case is more in the business of...

3. Losses incurred by the assessee from F & O operations - Speculation loss or business loss - Loss incurred on account of derivatives would be deemed business loss under...

4. Set off of speculation loss against the profit earned by the assessee from delivery based transactions - the assessee would be entitled to set off this speculation loss...

5. Speculation or non speculation loss (Business Loss) - loss incurred on futures and options (derivative transactions) - Section 43(5)(d) of the Act should have to be...

6. Loss on account of Mark to Market - Speculation or non speculation loss - the gross total income mainly consists of income from house property, income from capital...

7. Losses in speculation business - Tribunal have to decide whether principle business of the assessee is of granting of loans and advances or dealing in shares and...

8. Claim of loss in the stock business denied - loss from commodity stock trading - transaction could not be held to be a bogus transaction - delivery taken by arhtias in...

9. Nature of loss - business loss or speculation loss - trading in derivatives i.e. F&O of shares - The contract note clearly revealed that the transactions were supported...

10. Set off of brought forward non speculative loss against the current years speculative income - Set off of loss from one head against income from another - there is no...

11. Valuation loss treated as speculation loss - It is a fact that shares traded by the assessee were not of any of the good companies. The assessee had in the normal course...

12. Nature of loss - Business loss or Speculation loss - transactions in purchase and sale of shares settled otherwise than the actual delivery - the said loss is computed...

13. Disallowing the NCDEX Trading Loss - Speculation Loss - It is not in dispute that the assessee's transactions in agricultural commodity derivative were otherwise...

14. Reopening of assessment u/s 147 - In the reasons for reopening, AO has not nowhere indicated that the business loss suffered by the assessee can be treated speculation...

15. Disallowance of loss on sale of shares of associated concern - speculation loss - only the loss resulting from the activity of sale and purchase of shares of other...