Speculative loss not eligible for set off against Non-Speculation Business Income: ITAT

Speculative loss - eligible for set off against Non - Speculation Business Income - ITAT - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the speculative losses are not eligible for set off against the non-speculation business income. The assessee e-filed the return of income declaring a total loss of Rs.25,50,57,463/-. The return of income filed by the assessee was selected for scrutiny and statutory notices were…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

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.)
  ₹1599 + GST for 1 year

Subscribe Now

taxscan-loader