02 June 2010
My client being an individual engaged in consultancy/advisiory services. besides these activities also he incurred/suffered loss on F & o activities of rs.35470/ during the period ended on 31.03.2010.
My query is whether the same can be considered as specutative loss or usual business loss for the purposes of being set off & carried forward as per I.t.Act.
CAclubindia
