Real estate businessman lost Rs 34.21 lakh in F&O trading; taxman called it speculative, but ITAT Delhi allowed Rs 25.09 lakh as business loss: Here’s why
The AO invoked the Explanation to Section 73. (Image for representative purpose only) A taxpayer from Mathura earned Rs 8.64 crore through his real estate trading business. However, the said taxpayer alsoincurred a loss of around Rs 34 lakh from futures and options (F&O) trading in the stock market. When the taxpayer filed his income…
