INTERESTING JUDGEMENT ON SPECULATIVE TRANSACTION.....

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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