“speculation loss”

GOPALKRISHNA NARLA RAO,MUMBAI vs. ITO WARD 16(2)(4), MUMBAI

In the result, appeal is allowed

Bench: Shri Saktijit Dey & Shri Jagadishgopalkrishna Narla Rao, Income Tax Officer, A/12/46 Sunder Nagar Kalina, Ward 16(2)(4), Vs. Santacruz East, Mumbai - 400020 Mumbai - 400098 (Appellant) : (Respondent) Pan No. Aabpr 1916R Appellant By : Shri M Subramnian Respondent By : Shri Swapnil Choudhari, Sr.- Dr (Appellant) (Respondent) Date Of Hearing : 22.01.2026 Date Of Pronouncement : 16 .03.2026

facts on record, the assessee, both, in the original return of income as also the revised computation claimed set off of brought forward speculation loss of Rs.18,50,997/-. Whereas, the Assessing Officer has allowed brought forward loss at a much higher figure of Rs.31,85,365/-. These facts clearly

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

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per section

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

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per section

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

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per section

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

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per section

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

against the\nForeign Exchange gain. According to the ld. Assessing Officer, loss\nincurred in derivative based stock and shares were speculative loss as\n6\nITA No. 4043/Mum/2025 and others\nOverseas Infrastructure Alliance (India) Pvt. Ltd.\nAYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23\nper ... section 43(5), it also simultaneously amended\nsub-section (4) to section 73 so as to reduce the period of carry forward\nof speculation loss from 8 assessment years to 4 assessment years.\nThus, both, section 43(5) and section 73 are independent sections and\nthe meaning of derivative appearing

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

against the\nForeign Exchange gain. According to the ld. Assessing Officer, loss\nincurred in derivative based stock and shares were speculative loss as\n6\nITA No. 4043/Mum/2025 and others\nOverseas Infrastructure Alliance (India) Pvt. Ltd.\nAYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23\nper ... section 43(5), it also simultaneously amended\nsub-section (4) to section 73 so as to reduce the period of carry forward\nof speculation loss from 8 assessment years to 4 assessment years.\nThus, both, section 43(5) and section 73 are independent sections and\nthe meaning of derivative appearing

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

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per 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

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per 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

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per section

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

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per section

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

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

case, derivative loss has been held to be a business loss as against view taken by the ld. Assessing Officer treating it as speculative loss for which set-off was not allowed. Ground no.1 in the present appeal before us deals with the legal issue and ground no.2 ... against the Foreign Exchange gain. According to the ld. Assessing Officer, loss incurred in derivative based stock and shares were speculative loss as Overseas Infrastructure Alliance (India) Pvt. Ltd. AYs 2011-12, 2015-16 to 2017-18 and 2019-20 to 2022-23 per section

RANJANBEN CHUNILAL GADA,MUMBAI vs. TIO 34(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

{ "clean_text": "ITA No.5842/MUM/2025 (A.Y. 2014-15)\nRanjanben Chunilal Gada, v/s. Income Tax Officer, Ward\nFlat No. 401, Chandan बनाम

INU EXPORTS PRIVATE LIMITED,MUMBAI vs. ITO 12(2)(2), MUMBAI, MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Smt. Renu Jauhri(Hybrid Hearing) Inu Exports Private Limited Ito, 12(2)(2), Mumbai Room No. 145, 1St Floor, Aayakar Office No. 33, Shrinaman Plaza, Vs Behind Shoppers Stop Kandivali, Bhavan, M.K. Road, Mumbai, Maharashtra - 400067. Mumbai – 400020. [Pan: Aaaci 6806 M] Appellant / Assessee Respondent / Revenue

delivery or transfer of goods in contract is in the nature of speculative transaction and the claim and settlement is in the nature of speculative loss. For claiming such loss, the assessee was required to show business activities and that expenses were incurred related to such business activities. The assessee ... actual movement of goods, so it cannot be considered as a trading transaction. The claim of loss was disallowed by treating a speculative loss and initiated penalty under section 270A for under reporting income. The assessing officer levied the penalty of Rs. 15.18 crore under section 270A. Before levying