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Speculative loss

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(Querist)
13 January 2010 Whether current year's speculative profits can be set off against the current year's non-speculative business loss?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
13 January 2010 My,view, It can be set off against Speuclative profit as per Sec.70
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CA.Manish Jindal

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CA.Manish Jindal (Expert)
14 January 2010 yes it can be done
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
14 January 2010 Yes it is possible but the reverse is not possible
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
14 January 2010 yes you can set-off
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Manikanta Raju CA,CWA,(CS)

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Manikanta Raju CA,CWA,(CS) (Expert)
18 January 2010 According to section 73, loss from speculative business can be set off only against income from speculativebusiness.

Where there is no such conditon imposed on non-speculative business loss for set-off.
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