Provision against SABAH forward contract as the order was ...
Income Tax
September 23, 2019
Provision against SABAH forward contract as the order was cancelled beyond the year ending - Incurring of loss in a succeeding year is something quite different from marking transaction to market rate as at the close of the year. - Since the instant loss actually fell upon the assessee in the succeeding year, the same cannot be allowed as deduction in the year under consideration.
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