Assessing Officer rejected assessee’s claim for set-off of derivative trading loss against business income on the ground that no broker contract notes were furnished as required under Explanations 1 & 2 to section 43(5). CIT(A) upheld the order of the Assessing Officer. On appeal, the Tribunal held that since the assessee had consistently traded through the same brokers in earlier years where such trades were accepted as fulfilling section 43(5) conditions, the matter was remanded to the Assessing Officer to examine whether the trades met the requirements of Explanations 1 & 2 to section 43(5). (AY. 2015-16)