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Documents citing Icici Securities Ltd, Mumbai vs Dcit Rg 4(1), Mumbai on 19 March, 2018

Diwali Capital & Finance Pvt. Ltd., ... vs Dcit -Cc- 2(2), Mumbai on 8 May, 2019

8. I noted that this issue has been decided by Co-ordinate Bench of ITAT Kolkata in the case of Lohia Securities Ltd. vs. DCIT in ITA No. 487/Kol/2012 for AY 2008-09 dated 09.12.2015, wherein it is held that neither trading in shares done by taking delivery, nor derivative transactions i.e. futures and options in shares are speculative transaction and hence loss from one can be set off from profit of others. The Tribunal held as under: -
Income Tax Appellate Tribunal - Mumbai Cites 30 - Cited by 1 - Full Document

Kotak Mahindra Prime Limited, Mumbai vs Acit (Hq) (Judl) To The Pr. Cit . 14 , ... on 17 February, 2020

The ld. Authorized Representative for the assessee further submitted that the Tribunal in assessee's own case in ITA No.6993/Mum/2013 for assessment year 2011-12 decided on 05/05/2017 and in the case of assessee's group concern M/s.Kotak Securities Ltd. vs. DCIT in ITA No.6666/Mum/2016 assessment year 2012- 13 decided on 19/09/2018 had adjudicated the issue of disallowance under section 14A r.w.r. 8D(2). The Tribunal in both the aforesaid cases has held that the disallowance be restricted to exempt income earned and only dividend yielding investments be considered for computing avg. value of investments.
Income Tax Appellate Tribunal - Mumbai Cites 9 - Cited by 0 - Full Document
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