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“Section 73(4)”

Section References (mined)Section 73Section 73(4)16 judgments

ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

ITA 4321/MUM/2025[2016-17]Status: DisposedITAT Mumbai20 Feb 2026AY 2016-17

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

ITA 4320/MUM/2025[2020-21]Status: DisposedITAT Mumbai20 Feb 2026AY 2020-21

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

ITA 4319/MUM/2025[2019-20]Status: DisposedITAT Mumbai20 Feb 2026AY 2019-20

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

ACIT, CC-6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

ITA 4318/MUM/2025[2022-23]Status: DisposedITAT Mumbai20 Feb 2026AY 2022-23

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

ITA 4090/MUM/2025[2016-17]Status: DisposedITAT Mumbai20 Feb 2026AY 2016-17

section 73 are independent sections and\nthe meaning of derivative appearing in section 43(5) could not be applied\nto section 73(4) of the Act. Assessee did not trade in shares of other\ncompanies but had traded in derivatives (F&O). As per provisions of\nsection

OVERSEAS INFRASTRUCTURE ALLIANCE(INDIA) PRIVATE LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 6(2), MUMBAI

ITA 4064/MUM/2025[2022-23]Status: DisposedITAT Mumbai20 Feb 2026AY 2022-23

section 73 are independent sections and\nthe meaning of derivative appearing in section 43(5) could not be applied\nto section 73(4) of the Act. Assessee did not trade in shares of other\ncompanies but had traded in derivatives (F&O). As per provisions of\nsection

OVERSEAS INFRASTRUCTURE ALLIANCE(INDIA) PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -6 , MUMBAI

In the result, appeal by the assessee is allowed

ITA 4045/MUM/2025[2020-21]Status: DisposedITAT Mumbai20 Feb 2026AY 2020-21

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMTIED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeal by the assessee is allowed

ITA 4044/MUM/2025[2021-22]Status: DisposedITAT Mumbai20 Feb 2026AY 2021-22

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMTIED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeal by the assessee is allowed

ITA 4043/MUM/2025[2019-20]Status: DisposedITAT Mumbai20 Feb 2026AY 2019-20

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

ACIT CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

ITA 3998/MUM/2025[2017-18]Status: DisposedITAT Mumbai20 Feb 2026AY 2017-18

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

ACIT, CC-6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

ITA 3995/MUM/2025[2011-12]Status: DisposedITAT Mumbai20 Feb 2026AY 2011-12

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

section 73 are independent sections and the meaning of derivative appearing in section 43(5) could not be applied to section 73(4) of the Act. Assessee did not trade in shares of other companies but had traded in derivatives (F&O). As per provisions of section

DCIT 4(3)(1), MUMBAI vs. JM FINANCIAL SERVICES PVT. LTD., MUMBAI

In the result, the appeals filed by the revenue are allowed and the appeals filed by the assessee are allowed for statistical purpose

ITA 6362/MUM/2018[2013-14]Status: DisposedITAT Mumbai14 Oct 2025AY 2013-14

Bench: SHRI NARENDRA KUMAR BILLAIYA (Accountant Member), SHRI PAWAN SINGH (Judicial Member)

Section 255Section 43Section 43(5)Section 73Section 73(4)

section 73 –apparent from the tenor of its language is to deny speculative business the benefit of carry forward of losses .Explanation to section 73(4) has been enacted to clarify beyond any shadow of doubt that share business of certain types or classes of companies are deemed ... assets, in the present case, by all accounts the derivatives are based on stocks and shares, which fall squarely within the explanation to section 73(4). Therefore, it is idle to contend that derivatives do not fall within that provision, when the underlying asset itself does not qualify

JM FINANCIAL SERVICES LTD.,MUMBAI vs. DCIT - CIRCLE -4(3)(1), MUMBAI

In the result, the appeals filed by the revenue are allowed and the appeals filed by the assessee are allowed for statistical purpose

ITA 6114/MUM/2018[2013-14]Status: DisposedITAT Mumbai14 Oct 2025AY 2013-14

Bench: SHRI NARENDRA KUMAR BILLAIYA (Accountant Member), SHRI PAWAN SINGH (Judicial Member)

Section 255Section 43Section 43(5)Section 73Section 73(4)

section 73 –apparent from the tenor of its language is to deny speculative business the benefit of carry forward of losses .Explanation to section 73(4) has been enacted to clarify beyond any shadow of doubt that share business of certain types or classes of companies are deemed ... assets, in the present case, by all accounts the derivatives are based on stocks and shares, which fall squarely within the explanation to section 73(4). Therefore, it is idle to contend that derivatives do not fall within that provision, when the underlying asset itself does not qualify

JM FINANCIAL SERVICES LTD.,MUMBAI vs. DCIT - CIRCLE -4(3)(1), MUMBAI

In the result, the appeals filed by the revenue are allowed and the appeals filed by the assessee are allowed for statistical purpose

ITA 3175/MUM/2018[2012-13]Status: DisposedITAT Mumbai14 Oct 2025AY 2012-13

Bench: SHRI NARENDRA KUMAR BILLAIYA (Accountant Member), SHRI PAWAN SINGH (Judicial Member)

Section 255Section 43Section 43(5)Section 73Section 73(4)

section 73 –apparent from the tenor of its language is to deny speculative business the benefit of carry forward of losses .Explanation to section 73(4) has been enacted to clarify beyond any shadow of doubt that share business of certain types or classes of companies are deemed ... assets, in the present case, by all accounts the derivatives are based on stocks and shares, which fall squarely within the explanation to section 73(4). Therefore, it is idle to contend that derivatives do not fall within that provision, when the underlying asset itself does not qualify

DCIT- 4(3)(1), MUMBAI vs. JM FINANCIAL SERVICES LTD., MUMBAI

In the result, the appeals filed by the revenue are allowed and the appeals filed by the assessee are allowed for statistical purpose

ITA 3144/MUM/2018[2012-13]Status: DisposedITAT Mumbai14 Oct 2025AY 2012-13

Bench: SHRI NARENDRA KUMAR BILLAIYA (Accountant Member), SHRI PAWAN SINGH (Judicial Member)

Section 255Section 43Section 43(5)Section 73Section 73(4)

section 73 –apparent from the tenor of its language is to deny speculative business the benefit of carry forward of losses .Explanation to section 73(4) has been enacted to clarify beyond any shadow of doubt that share business of certain types or classes of companies are deemed ... assets, in the present case, by all accounts the derivatives are based on stocks and shares, which fall squarely within the explanation to section 73(4). Therefore, it is idle to contend that derivatives do not fall within that provision, when the underlying asset itself does not qualify

SHRI HUMAD JAIN SAKH SAHAKARI SANSTHA MARYADIT,INDORE vs. ITO 2(1), INDORE

Appeal is allowed

ITA 547/IND/2024[2012-13]Status: DisposedITAT Indore22 Jul 2025AY 2012-13
Section 143(2)Section 143(3)Section 147Section 148Section 80P

allowed to\nbe set off against income arising out of proper business because derivatives\nwere treated differently within meaning of Explanation to section 73(4) and\nnot at par with the shares\". The very foundation of the grievance raised by the\nappellant Assessing Officer thus ceases to have a legally