Speculative Transaction through Broker without Purchase of Share: ITAT deletes Addition on Purchase of Shares and Commission Expenditure [Read Order]

Speculative Transaction - Broker - ITAT - Purchase of Shares - Commission Expenditure - Taxscan

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that speculative transaction through a broker without the purchase of share and deletes addition on purchase of shares and commission expenditure. The appellant, M/s. Dhaval R Ajmera is deriving salary income, house property income, short-term and long-term capital gains, and income from other sources….

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M/s. Dhaval R Ajmera vs Income Tax Officer

Counsel for Appellant:   Shri Prakash Jotwani

Counsel for Respondent:   Shri Rajat Mittal


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