Supreme Court clarifies Speculative Business Loss Set-Off Rules for NBFCs: Snowtex Investment Ltd. vs. PCIT (2019)

/ Dhananjaya Y Chandrachud, Hemant Gupta, Income Tax Act, 1961, Income Tax Act, 1961 with Section 43(5), Income Tax Act, 1961 with Section 73, Judges, Speculative Business

Supreme Court Clarifies Speculative Business Loss Set-Off Rules for NBFCs: Snowtex Investment Ltd. vs. PCIT (2019) LEGAL ISSUE: Whether a company’s income from trading in shares should be classified as speculative business income, and whether losses from such trading can be set off against profits from trading in derivatives. CASE TYPE: Income Tax Law Case […]

Supreme Court clarifies Speculative Business Loss Set-Off Rules for NBFCs: Snowtex Investment Ltd. vs. PCIT (2019) Read Post »