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Income Tax - Highlights / Catch Notes

Home Highlights September 2017 Year 2017 This

Forward contract loss - speculation loss or not - trading of ...

Income Tax

September 5, 2017

Forward contract loss - speculation loss or not - trading of gold and bullion - CIT(A) and ITAT has rightly considered all the materials on record to conclude that the impugned loss amounts to hedging loss and constitutes business loss. - HC

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  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...

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  6. The brought forward business loss is to be allowed set off of against the speculation income assessable for the current year - AT

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