Disallowance of loss of trading in commodity exchange - set off ...

Taxpayer Can Offset Commodity Trading Loss Against Business & Other Income u/s 71(1) of Income Tax Act.

June 27, 2019

Case Laws Income Tax AT

Disallowance of loss of trading in commodity exchange - set off of loss - there is no finding by both the lower authorities challenging the genuineness of the commodity trading transactions entered during the year - It is true that it has been disclosed under head income from other source but according to Section 71(1) of the Act assessee is entitled to set off from income under the head Business & profession and income from other sources

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Disallowance of loss of trading in commodity exchange - set off ...

Taxpayer Can Offset Commodity Trading Loss Against Business & Other Income u/s 71(1) of Income Tax Act.

June 27, 2019

Case Laws Income Tax AT

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