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 February 2019 Year 2019 This

The loss arising on account of cancellation of forward contract ...

Income Tax

February 15, 2019

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 of accounts.

View Source

 


 

You may also like:

  1. Carry forward of losses u/s 73 - Speculative loss - Derivative transaction - Tribunal erred in law in holding that the assessee was entitled to carry forward its losses - HC

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

  3. Depreciation loss - loss arising due to forward contracts - Section 43A - The assessee even under unamended provision is entitled to benefit of the loss claimed by the...

  4. Loss from foreign exchange transaction in the forward market - speculative loss v/s business loss - assessee was entitled to claim deduction in respect of payment made...

  5. Amalgamated company is entitled to set off and carry forward the brought forward business losses and unabsorbed depreciation of the amalgamating company from the very...

  6. Carry forward the loss claimed in the revised return of income - the return filed by the assessee u/s. 139(5) of the Act is in accordance with law and therefore the...

  7. 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

  8. The loss arising on cancellation of foreign currency forward contracts cannot be treated as speculative loss u/s 43(5) - It is not required by the assessee to establish...

  9. Set off and carry forward of loss under the head ‘income from house property’ - Since the assessee is entitled to claim the entire interest paid during the year on loan...

  10. Transfer of capital asset by a company to its subsidiary company - Long term capital gain v/s long term capital loss - transaction cannot be regarded as transfer u/s...

 

Quick Updates:Latest Updates