I wanted to know if Bracket Orders placed in F&O would be considered speculative income / loss as there is no delivery of the same.
The same principal applies when considering equity, which is otherwise considered a deliverable security.
Intraday trades in F&O can be shown as non-speculative business income. Check this module.
They can be shown as speculative as well? Do you know of any instances where this view has been taken?
Futures are considered non-speculative - intraday or overnight. Do go through that module, I have given links.