specative income

1. Trading in derivative will not be considered as speculative transaction u/s 43(5) and commodity derivative is also the one which is covered under the above provision. However, it is to be noted that there is no specific mention of trading in commodities. 
2. It is important to see the nature of the transaction to determine whether actual delivery takes place in the above scenario with respect to commodity trading. 
3. Since both physical and non-physical is available as a platform for trading in commodity, if you are carrying out any transaction through a recognized stock exchange it will be considered as non-physical and will be covered under the speculative transaction. 
4. In your case, it will be considered as a speculative business and you can use ITR-3 can be used.
Please correct me if the above interpretation has an alternative view.