Claim of loss in the stock business denied - loss from commodity ...

Claim Denied: Stock Loss Not Speculative as Actual Delivery Confirmed by Agents in Commodity Trading.

June 2, 2020

Case Laws Income Tax AT

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 the capacity of agent of the assessee is to be construed as actual delivery taken by the assessee, the transaction therefore cannot be treated as speculative also.

View Source

← Previous Next →

Claim of loss in the stock business denied - loss from commodity ...

Claim Denied: Stock Loss Not Speculative as Actual Delivery Confirmed by Agents in Commodity Trading.

June 2, 2020

Case Laws Income Tax AT

You may also like:

Disallowance of provision for foreign exchange fluctuations and loss on forward contracts u/s 43(5) regarding speculative transactions. It clarifies that foreign...

Nature of loss - Speculative loss or normal business loss - Marked to market loss on hedging of the transaction - The Appellate Tribunal held that speculative...

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...

Addition u/s 43(5) - Loss in commodity derivatives trading business was non-speculative - Reading clause (e) of the first proviso to section 43(5), and sections 70(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...

Nature of loss - "business loss" or "speculative transactions" - what is "hedging transaction" and when it can be a "speculative transaction"? - safeguard against loss...

Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges...

Loss from derivative transactions in Commodity Futures and Options - speculative loss OR not - CBDT, on 22nd May 2009, recognizing MCX as recognized Stock Exchange for...

Speculative or non speculative business - treatment of “high sea sale” - when the goods are not taken by the delivery the entire issue is treated as speculative...

Disallowance of foreign currency exchange loss treating speculative - the hedging of foreign currency was done on the basis of confirmed orders with the customers and...

Loss on valuation of foreign exchange contract on M2M basis - Loss on forward contracts - speculative loss - The AO disallowed the addition on the grounds that the...

Nature of loss - commodities transactions - Addition made u/s 43(5) - speculative loss or business loss - CIT(A) rightly concluded that all the transactions undertaken...

Disallowance of speculative loss occurred on derivative transactions - Tribunal has correctly held that there is an actual delivery and constructive delivery and they...

Forex loss - allowable business loss u/s 37(1) or not? - The assessee company has entered into transactions of buying and selling of forex and incurred a loss on the...

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...

Quick Updates: