Dismissing the appeal of the Revenue the Court held that once provisions of section 43(5), as amended, came to treat a trade in derivatives as not a speculative transaction when it was carried out on a recognised stock exchange, then effect of that amendment was to treat transaction in derivatives as merely a business transaction. Therefore, a loss in derivative business would  be a business loss for purposes of section 72, and a set off of such business loss would have to be permitted against profits and gains of business as computed in terms of Act. Order of Tribunal affirmed. (AY. 2007-08)