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Home › All Judgements › R. B. K. Securities vs. ITO (ITAT Mumbai)

R. B. K. Securities vs. ITO (ITAT Mumbai)

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COURT:
CORAM:
SECTION(S):
GENRE:
CATCH WORDS:
COUNSEL:
DATE: (Date of pronouncement)
DATE: August 13, 2008 (Date of publication)
AY:
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CITATION:


Even prior to the amendment to s. 43(5) by the Finance Act 2005 w.e.f 1.4.2006, dealings in Futures & Options and other derivatives products cannot be treated as speculative transactions as they are special kind of transactions, not involving purchase and sale of shares and consequently the loss arising therefrom cannot be treated as a speculation loss.

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