What are the implications if a transaction is treated as speculation transaction?
The profit and loss from such speculation transaction would be treated as income from speculation business under the head Profits and Gains from Business/Profession. Profit if any from speculation would be taxed at the normal rate applicable to other non-speculative business income. Any loss, computed in respect of a speculation business carried on by the assessee, shall not be set off except against profits and gains, if any, of another speculation business.
