During relevant assessment year, assessee entered into derivative transactions comprising of futures and options in addition to entering into trading transactions in equity shares.  Assessee incurred loss on sale of futures, options and shares which was claimed as business loss.  Assessing Officer sought to treat said loss as speculation loss by applying provisions of Explanation to section 73. Held that since substantial income of assessee comprised of income from house property and capital gains, then case of assessee would squarely fall under exception provided in Explanation to section 73. Tribunal also held that the  assessee executed transactions in recognized stock exchange through SEBI registered share broker, said transactions would fall under exception provided in definition of speculative transactions in terms of section 43(5)(d) and loss incurred on same was to be treated as regular business loss.  (AY. 2011-12)