Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Loss incurred on account of forex derivative contracts - Revenue ...


Taxpayer Permitted to Offset Forex Derivative Losses Against Business Income, Revenue Authorities Directed to Comply.

August 11, 2015

Case Laws     Income Tax     AT

Loss incurred on account of forex derivative contracts - Revenue directed to set off of the losses incurred by the assessee on account of forex derivatives contracts against the business income of the assessee - AT

View Source

 


 

You may also like:

  1. Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges...

  2. Derivative trading loss as business loss - when undisputedly assessee has entered into transaction of derivatives after 01.04.2006 in a recognised stock exchange as per...

  3. Addition u/s 43(5) - Loss in commodity derivatives trading business was non-speculative - Reading clause (e) of the first proviso to section 43(5), and sections 70(1)...

  4. Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

  5. Revision u/s 263 by CIT - setting off of derivative loss against business income - the Tribunal has not given a specific finding as to how there is no bar under the...

  6. Loss incurred by the assessee on F & O (Future and Options) derivative transactions - “speculative loss” or not - disallowing the set off of the said loss against other...

  7. Forex loss - allowable business loss u/s 37(1) or not? - The assessee company has entered into transactions of buying and selling of forex and incurred a loss on the...

  8. ITAT ruled that a foreign company with Permanent Establishment (PE) in India can set off PE losses against Foreign Technical Services (FTS) income under section 71 of...

  9. TP Adjustment - The main contention was whether forex losses should be considered as non-operating or operating for the purpose of computing the Profit Level Indicator...

  10. Losses incurred by the assessee from F & O operations - Speculation loss or business loss - Loss incurred on account of derivatives would be deemed business loss under...

  11. Income earned from trading in Shares, Future and Options and derivatives - speculative business or not - Assessee has shown better income from sale and purchase of...

  12. Set off of derivative loss against derivative profit - speculative loss or not - the derivative transaction is not supported or backed by deliverable commodity - The...

  13. Loss on account of Mark to Market - Speculation or non speculation loss - the gross total income mainly consists of income from house property, income from capital...

  14. This case deals with the penalty u/s 271(1)(c) of the Income Tax Act, imposed for disallowance of losses on forex derivatives treated as speculative losses and...

  15. Speculation or non speculation loss (Business Loss) - loss incurred on futures and options (derivative transactions) - Section 43(5)(d) of the Act should have to be...

 

Quick Updates:Latest Updates