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Income Tax - Highlights / Catch Notes

Home Highlights April 2021 Year 2021 This

Disallowance of compensation loss claimed - hedging transaction ...

Income Tax

April 20, 2021

Disallowance of compensation loss claimed - hedging transaction - The transactions entered into are contended by the assessee to be in the nature of hedging transactions in order to safe-guard the company and as a precautionary measure, in the course of business carried on by it and, therefore, they fall proviso in clause (a) to sub-section (5) to Sec.43 of I.T. Act. - CIT(A) rightly directed the AO to allow the compensation loss claimed - AT

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