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Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

Allowing mark to market loss on account of outstanding forward ...

Income Tax

October 16, 2018

Allowing mark to market loss on account of outstanding forward contract liability - the forward contract transactions so entered during the course of regular business and not a speculation transaction.

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

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  7. "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...

  8. When the contention of the assessee that all the forward contracts were settled by way of actual delivery through dollars received on export receivables, the assessee...

  9. Carry forward of the loss - loss as claimed by the assessee treating the same as excess application of loss u/s.11 - set off allowed - AT

  10. Disallowance of foreign exchange loss on account of marking to mark to market of forward contracts - "expenditure" as used in section 37 in Income Tax Act may in the...

 

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