2017 (2) TMI 1243

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..... Revenue and in favour of the respondent assessee by the decision of this Court in Commissioner of Income Tax Vs. M/s. D. Chetan & Co. (2016 (10) TMI 629 - BOMBAY HIGH COURT ) held Tribunal was justified in deleting the addition of 'Mark to Market' Loss made by the Assessing Officer on account of disallowance of loss on foreign exchange forward contract loss. - Decided in favour of assessee - INC .....

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..... d contracts in spite of the fact that assessee does not deal in foreign exchange and is a diamond merchant ? 3. Ms.Bharucha, learned Counsel for the Revenue very fairly states that the issue raised herein stands concluded against the Revenue and in favour of the respondent assessee by the decision of this Court in Commissioner of Income Tax-16 vs. M/s. D.Chetan Co. (Income Tax Appeal No. 278 .....

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