Allowance of loss arising on cancellation of contract due to ...

Income Tax

June 16, 2016

Allowance of loss arising on cancellation of contract due to price fluctuation where no actual delivery of cotton commodity - treating a loss to be speculative in nature u/s. 43(5) - these transactions are only 4% of the total transactions forming part of the regular business - claim of loss allowed - AT

View Source

← Previous Next →

Allowance of loss arising on cancellation of contract due to ...

Income Tax

June 16, 2016

You may also like:

Disallowance of foreign currency exchange loss treating speculative - the hedging of foreign currency was done on the basis of confirmed orders with the customers and...

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

Nature of loss - "business loss" or "speculative transactions" - what is "hedging transaction" and when it can be a "speculative transaction"? - safeguard against loss...

The loss arising on account of cancellation of forward contract would also be a business loss and therefore the assessee is entitled to claim the said loss in his books...

Forward contract cancellation loss - whether be treated as business loss - held yes since it is not a speculation transaction - HC

Claim towards exchange fluctuation loss - for the purpose of depreciation, the cost of asset cannot be reduced or increased due to exchange rate fluctuation - allowed as...

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

Addition u/s 43B - “actual payment” means “actual payment” and not actual receipt and delivery of the currency by the two parties transacting when they are creditor and...

Claim of loss in the stock business denied - loss from commodity stock trading - transaction could not be held to be a bogus transaction - delivery taken by arhtias in...

Disallowing of loss on shares - method of valuation of shares at cost or market price - Since the assessee has himself treated the same as investment, no trading loss...

Quick Updates: