If part of company business is deal in shares then all types of transactions, whether delivery based or non-delivery based, will be treated as speculative transactions
SUMMARY OF CASE LAW
Speculative transactions In case of a company, if part of its business consists of dealing in shares then all types of transactions, whether delivery based or non-delivery based, will be treated as speculative transactions.
CASE LAW DETAILS
Decided by: ITAT, `B’ BENCH, MUMBAI, In The case of: Metropolitan Traders Pvt. ltd. v. ITO, Appeal No.: ITA No. 1535/Mum/2007, Decided on: June 30, 2009
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