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2017 (6) TMI 1086 - HC - Income TaxDisallowance of loss on foreign exchange forward contract loss - whether the said loss was a notional loss and hence cannot be allowed? - Held that:- The issue in the present matter is covered by the judgment of the Division Bench of this Court in "Commissioner of Income Tax Vs. D.Chetan & Co." (2016 (10) TMI 629 - BOMBAY HIGH COURT). It is also pointed that the loss depicted to profit and loss account is on account of actual cancellation of forward contract during the year under consideration. No substantial question of law.
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