2016 (12) TMI 1726

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..... me Court in Commissioner of Income Tax Vs. Woodward Governor India (P) Ltd. [2009 (4) TMI 4 - SUPREME COURT]. Revenue very fairly states that an identical issue as arising herein had came up for consideration before this Court in Commissioner of Income Tax Vs. M/s. D. Chetan & Co. (2016 (10) TMI 629 - BOMBAY HIGH COURT) and the appeal of the Revenue was dismissed as not giving rise to any substant .....

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..... ccount of disallowance of mark to market loss on foreign exchange forward contract loss and not appreciating the fact that the said loss was not a notional loss and hence cannot be allowed? 3. Mr. Malhotra, learned Counsel for the Revenue very fairly states that the impugned order of the Tribunal dismissed the Revenue's appeal before it on the above issue by following the decision of Suprem .....

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