Supreme Court · 2019 INSC 593 · Decided 30 April 2019
Snowtex Investment Limited v. Principal Commissioner of Income Tax, CENTRAL-2, Kolkata
- Court
- Supreme Court of India
- Citation
- 2019 INSC 593 · [2019] 8 S.C.R. 687
- Case number
- CIVIL APPEAL No. 4483/2019
- Decided
- 30 April 2019
- Bench
- D.Y. CHANDRACHUD, HEMANT GUPTA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 43(5)(d), 73
Headnote
Income Tax Act, 1961: ss.43(5)(d), 73 - Assessment year 2008- 2009 - Assessee-NBFC having sole business of share trading - Transacting in future and options - Whether the speculation loss is capable of set off against the profits of trading in future loss which occurred to the assessee as a result of its activity of trading in shares (a loss arising from the business of speculation) is not capable of being set off against the profits which it has earned against the business of futures and options since the latter would not constitute
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