Commodity trading loss can set off against normal business

Sourav (Student)     31 December 2020

No trading speculative loss is a specified income and such income cannot be set off against normal business income. Such loss of specified business can be set off against such specified business of other assessment years

amol bramhankar (artical tranee)     31 December 2020

Future and option is derivatives hence I think is not speculation business

Sourav (Student)     31 December 2020

However, there are case laws which prohibit the carry forward and set-off of loss from F&O transactions stating share derivative transactions carry the character of speculative transactions for section 73 and any loss arising therefrom will be characterised as loss from speculative business and same cannot be set-off against normal business income