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Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Provision against SABAH forward contract as the order was ...

Case Laws     Income Tax

September 23, 2019

Provision against SABAH forward contract as the order was cancelled beyond the year ending - Incurring of loss in a succeeding year is something quite different from marking transaction to market rate as at the close of the year. - Since the instant loss actually fell upon the assessee in the succeeding year, the same cannot be allowed as deduction in the year under consideration.

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