| COURT: | ITAT Mumbai |
| CORAM: | D. Manmohan VP, Rajendra (AM) |
| SECTION(S): | 43(5)(a) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Hedging loss, speculative loss |
| COUNSEL: | Manish J. Sheth |
| DATE: | October 17, 2014 (Date of pronouncement) |
| DATE: | October 20, 2014 (Date of publication) |
| AY: | 2009-10 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 43(5)(a): Loss on foreign currency forward contracts by a manufacturer/ exporter is a “speculation loss” and not a “hedging loss” | |
Unless the assessee shows that there was some existing contract in respect of which he was likely to suffer a loss because of future price fluctuations and that it was to safeguard against such loss that he entered into the …
Recent Comments