RAAG VIHAR APARTMENTS PRIVATE LIMITED,UTTAR PRADESH vs. DCIT CIRCLE 16(1), C. R. BUILDING,DELHI

ITA 8774/DEL/2025Status: DisposedITAT Delhi10 July 2026AY 2015-166 pages
AI SummaryPartly Allowed

What were the facts?

The assessee, engaged in real estate, claimed losses from share and derivative trading. The Assessing Officer treated these as speculative losses and disallowed them, also estimating expenses related to such trading. The CIT(A) dismissed the assessee's appeal.

What did the Tribunal hold?

The Tribunal held that derivative transactions are not covered under the Explanation to Section 73(4) and thus losses from them are not speculative. It also deleted the disallowance under Section 14A as no exempt income was earned.

What were the issues?

Whether losses from derivative trading are speculative losses, and if disallowance under Section 14A is permissible when no exempt income is earned.

Which sections of the Income-tax Act were involved?

Section 73(4),Section 14A,Section 43(5)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI “A” BENCHES, NEW DELHI

Before: SHRI SUDHIR KUMAR & SHRI MANISH AGARWAL

PER MANISH AGARWAL, A.M.: The present appeal is filed by assessee against the order dated 24.10.2025 passed by Ld. Commissioner of Income Tax (A)/ADDl/JCIT(A)-4, Mumbai [“Ld. CIT(A)”] in Appeal No. CIT(A), Delhi-6/10527/2017-18 u/s 250 of the Income Tax Act, 1961 [“the Act”] arising out of assessment order dated 18.12.2017 passed u/s 143(3) of the Act pertaining to Assessment Year 2015-16. 2. Brief facts of the case are that the

The order continues below.

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