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Cos Trading In Derivatives, AC Hotels Battle Tax Issues

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July 25: While AC restaurants and hotels cheer the Kerala HC judgment terming service tax in this year’s finance bill as unconstitutionally invalid, the final word is not out yet. Another issue is the big tax axe for companies trading in derivatives, with the Delhi HC ruling that losses incurred from derivatives are speculative and cannot be set off against any other income. Bloomberg TV India explains how these two taxing issues are expected to pan out.