Assessee was entitled to set off hedging loss of brief period as business loss when it was denied windfall profit on ultimate sale of shares at a greater value

IT-II: Where subsequent to entering into contract to sell shares, assessee obtained dividends and had to reduce amount of dividend from sale price, assessee was entitled to deduction in respect of dividend received under section 80M

HIGH COURT OF CALCUTTA

Maud Tea & Seed Co. Ltd v. Commissioner of Income-tax