Speculative - Judgment Search Results

Parkar Securities Ltd. Vs. Deputy Commissioner of Income Tax

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2006)102TTJ(Ahd.)235

..... from such business there is perceptible difference between the speculative transaction and speculative business cit v nirmal kumar amp co supra the ..... of jobbing will not be in the nature of speculation profit or speculation loss thus even if it is accepted that the ..... entitled to get the commission receipts assessed under the head speculation business for the relevant years thus the learned departmental .....

R.P.C. Industries Ltd. Vs. Asstt. Cit

Court: Income Tax Appellate Tribunal ITAT Kolkata

Reported in: (2003)85ITD105(Kol.)

..... provision and section 73 of the act provides for treatment of losses in a speculation business the speculation transaction under section 43 5 stipulates that it must be transaction in which a ..... was also made to section 28 explanation 2which provides that the business in speculative transaction shall constitute a speculation business and a distinct and separate from any other business it was further .....

Paharpur Cooling Towers Ltd. Vs. Dy. Cit

Court: Income Tax Appellate Tribunal ITAT Kolkata

Reported in: (2003)85ITD745(Kol.)

..... of explanation to section 73 indicates that this explanation lays down that the expression speculation business under the specified circumstances will cover assessees business to the extent to which ..... accounting principles and business practices unlike the definition under section 43 5 which defines speculative transactions per se the deeming provisions of explanation to section 73 lay down the .....

Yucca Finvest (P.) Ltd. Vs. Deputy Commissioner of

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2006)101ITD403(Mum.)

..... of explanation to section 73 indicates that this explanation lays down that the expression speculation business under the specified circumstances will cover assessee s business to the extent to ..... normal accounting principles and business practices unlike the definition under section 43 5 which defines speculative transactions per se the deeming provisions of explanation to section 73 lay down the .....

Amp Spg. and Wvg. Mills (P.) Ltd. Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2006)100ITD142(Ahd.)

..... section 43 5 in a substantive manner generally speaking the ambit and scope of speculative transaction and speculation loss need to be confined within the limit provided by law contained in ..... being a provision against tax avoidance which deems certain actual transactions in shares as speculative transactions should be construed strictly for this proposition the learned counsel relied on the .....

Rajnikant A. Haji (Huf) Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (1992)40ITD311(Ahd.)

..... enquiries and without considering the relevant provisions of law relating to carry forward of speculation losses and therefore are clearly erroneous and prejudicial to the interest of revenue such ..... enquiries and without considering the relevant provisions of law relating to carry forward of speculation losses and therefore are clearly erroneous and prejudicial to the interest of revenue such .....

Shri Kanubhai A. Patel, Shri Vs. the Assistant Commissioner of

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

..... goods then the adventure in the nature of trade will be an adventure in speculative business speculative business is only a species of general business where contracts for purchase and sale ..... otherwise innocent into a wager hedging transactions are however to be distinguished from the speculative transactions inasmuch as they are genuine transactions entered into for purposes of insuring against .....

Torrent Finance (P) Ltd. Vs. Joint Commissioner of Income Tax

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2008)110ITD315(Ahd.)

..... assessee also received orders from its constituents who were not members of the association to speculate on their behalf the procedure for those transactions being as mentioned in the said judgment ..... inseparable in the earlier assessment years the ito could have dealt with these transactions as speculative or the ito could have treated them as business transactions in either event the loss .....

Starline Ispat and Alloys Ltd. Vs. Deputy Commissioner of Income Tax

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2007)108TTJ(Mum.)321

..... therefore something more than arithmetical exercise of aggregating the profits and losses from the speculative transactions it must therefore take into account all profits and losses which are attributable ..... of explanation to section 73 indicates that this explanation lays down that the expression speculation business under the specified circumstances will cover to the extent assessee s business .....

Commissioner of Income-tax Vs. Mangiram Gopi Chand

Court: Allahabad

Reported in: [1978]111ITR807(All)

..... loss where the assessee had no income from any other speculation business shall subject to the other provisions of this chapter ..... and gains of business profession or vocation any loss sustained in speculative transactions which are in the nature of a business shall ..... under the income tax act 1922 the carry forward of speculation losses of a registered firm has been specifically provided under .....