COURT: | ITAT Mumbai |
CORAM: | Amit Shukla (JM), N. K. Billaiya (AM) |
SECTION(S): | 43(5) |
GENRE: | Domestic Tax |
CATCH WORDS: | speculative loss |
COUNSEL: | Dhanesh Bafna, Kanchan Kaushal |
DATE: | February 13, 2015 (Date of pronouncement) |
DATE: | February 16, 2015 (Date of publication) |
AY: | 2009-10 |
FILE: | Click here to view full post with file download link |
CITATION: | |
S. 43(5): Transaction of call/put options in foreign currency are "derivatives" and loss suffered therein is not a "speculation" loss |
“Derivatives” include foreign currency call option/ put option. These transactions are of derivative markets and cannot be termed as speculative in nature
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