Home Highlights October 2013 Year 2013 This

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1. Mark-to-market loss treated as contingent loss - no prudent trader would care to show increased profits before actual realization - the addition made by the AO deleted - AT

2. Allowing mark to market loss on account of outstanding forward contract liability - the forward contract transactions so entered during the course of regular business...

3. "Mark to Market” loss - AO did not disallow the claim of loss but CIT(A) disallowed the claim of loss - In the absence of any fact with regard to the nature of the said...

4. Disallowance of foreign exchange fluctuation loss - mark to market loss - There is hardly any quarrel on such DRP’s directions are binding on an Assessing Officer u/s...

5. Disallowance of loss on trading in Mentha oil - sale below market price - unrelated party transactions - The assessee has to arrange his business affair keeping in view...

6. Disallowance of loss on Joint Venture in USA which was written off during the year by the appellant - AO directed to delete the additions.

7. Market to market loss - loss on account of Exchange rate fluctuation - of outstanding debtors and creditors for sale and purchase of foreign currency - speculative...

8. Mark to market loss - Contingent loss or not - Unrealized foreign exchange forward contract losses - 'mark to market' loss on such future and forward contracts are not a...

9. Nature of loss - Speculative loss or normal business loss - Marked to market loss on hedging of the transaction - The Appellate Tribunal held that speculative...

10. Marked to market loss on derivatives - the derivative transaction in respect of which it has claimed mark to market loss comes within the exception as per Clause (d) of...