Relying on the decision of the co-ordinate bench in the case of Growmore Research and Assets Management Ltd. (ITA No.1807 & 2192/M/2015 Ltd dt. 28th Feb,, 2017), the Hon’ble Tribunal affirmed the assessee’s position and allowed set-off of eligible losses from profit from trading in money market securities. (AY. 1992-93)
Cascade Holdings Pvt. Ltd. v. DCIT (2021) 61 CCH 470 / 213 TTJ 491 (Mum.)(Trib.)
S. 43(5) : Speculative transaction-Speculation loss-Profit from money market transactions-Gains arising out of speculative transactions are eligible to be set-off against loss arising out of share transactions. [S. 28, Expln. 2]