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The AO invoked the Explanation to Section 73 and consequently refused to allow the loss to be set off against the taxpayer’s regular business income. The assessment relied on the Delhi High Court ruling in CIT v. DLF Commercial Developers Ltd.
Gold remains under corrective pressure after the sharp rejection from the recent Rs 164,000–166,000 zone, with prices currently trading near Rs 151,000.
The Indian rupee experienced its sharpest single-day fall in two months. Rising oil prices and higher US interest rate expectations pressured the currency. Attacks on Saudi Arabian energy infrastructure boosted crude oil prices significantly. The Reserve Bank of India's dollar sales helped limit the rupee's losses. Bond yields rose as inflation and rate-hike bets grew.
India's overall trade deficit narrowed to $9.41 billion in August 2026. Exports grew 25.41% year-on-year to $82.68 billion, while imports rose to $92.09 billion. Merchandise exports increased 26.12% to $43.81 billion, showing strong performance. Services exports also registered robust growth, contributing to the positive trend. This export momentum accelerated further, indicating a positive trade outlook.
Amid Renewed Buzz Around Tata Sons' IPO, Stocks Shine On Gloomy Day On D-St