Platinum Asset Management Ltd. Versus Dy. Director of Income Tax (International Taxation) - Income Tax - ITAT MUMBAI - Tri - Loss from derivative transactions - Capital loss or business loss - Held that - Income arising to a FII from the transfer of securities as specified in Explanation (b) to sec. 115AD can only be considered as short-term or long-term capital gain - It is impermissible to consider such income as falling under the head Profits and gains of business or profession . Such income................................... Income Tax - Case Laws
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