Loss on Trading in Derivatives of Securities can be Adjusted against Business Income: Bombay HC [Read Order]

Trading - Securities - Business Income - Bombay High Court - Taxscan

A division bench of the Bombay High Court comprising Justices R.D. Dhanuka and S.G. Mehare, has held that the loss on trading in derivatives of securities not a speculative loss, can be set off against business income for the purpose of the Income Tax Act, 1961. The assessee/appellant M/s. Souvenir Developer (India) Pvt Ltd deals…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan AdFree

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹599 + GST for 1 year

Subscribe Now

Souvenir Developers (I) Pvt. Ltd vs The Union of India

Counsel for Appellant:   Mr. S. P. Shah

Counsel for Respondent:   Dr. Kalpalata Bharaswadkar-Patil

CITATION:   2022 TAXSCAN (HC) 403

Related Stories