"Mark to Market” loss - AO did not disallow the claim of loss ...

Income Tax

July 8, 2017

"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 transaction, it would not be possible to accept the contention of the revenue with regard to 'Mark to Market' loss. - Claim allowed - HC

View Source

← Previous Next →

"Mark to Market” loss - AO did not disallow the claim of loss ...

Income Tax

July 8, 2017

You may also like:

Disallowing of Peak load violation charges paid to PSEB - nature of expenditure - assessee failed to prove that the claim was not penal in nature - expenditure was...

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...

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

Penalty levied u/s 271(1)(C) - deemed income being loss claimed and disallowed - The AO has also not specified the charge on which penalty is being levied - No penalty - AT

Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

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...

Revision u/s 263 by CIT-A - AO’s order is not erroneous and prejudicial to the interest of revenue since mark to market loss incurred by Company on revaluation of...

Disallowance of Capital Loss on Sale of Shares - sale of shares due to the amalgamation of certain entities - The AO disallowed the loss, treating it as an artificial...

Disallowance u/s. 40(A)(2)(b) - excessive salary payment - payment to close associates / related parties - AO can disallow only that portion of the total expenditure,...

Quick Updates: