Tribunal held that both delivery based transaction and derivative transactions are non-speculative as far as S.43(5) is concerned and, thus, they will have same treatment as regards application of Explanation to S.73 of the Act, matter was remanded back to Assessing Officer to bifurcate speculative loss and normal business loss.( AY.2007-08)
Dewa Projects (P.) Ltd. v. ACIT (2018) 170 ITD 326/ 166 DTR 105 / 193 TTJ 755(Cochin) (Trib.)
S. 43(5) : Speculative transaction -Derivative -Both delivery based transaction and derivative transactions are non-speculative as far as S. 43(5) is concerned and, thus, they will have same treatment as regards application of Explanation to S. 73 of the Act, matter was remanded back to Assessing Officer to bifurcate speculative loss and normal business loss [ S. 43(5) (d), 73 ]