Allowance of loss arising on cancellation of contract due to ...

Contract Cancellation Loss Allowed Despite Initial Speculative Classification u/s 43(5) of Income Tax Act.

June 16, 2016

Case Laws Income Tax AT

Allowance of loss arising on cancellation of contract due to price fluctuation where no actual delivery of cotton commodity - treating a loss to be speculative in nature u/s. 43(5) - these transactions are only 4% of the total transactions forming part of the regular business - claim of loss allowed - AT

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Allowance of loss arising on cancellation of contract due to ...

Contract Cancellation Loss Allowed Despite Initial Speculative Classification u/s 43(5) of Income Tax Act.

June 16, 2016

Case Laws Income Tax AT

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