Assessee in instant year passing reversal entry debiting provision and crediting profit and loss account Tribunal held that there is discrepancy between claim in this year and disallowance in earlier year therefore the issue to be examined by reference to actual books of account and entries therein.( AY.2010-11)
CIT v. Kiran Gems Pvt. Ltd. (2018) 64 ITR 689 (Mum) (Trib)
S.28(1): Business loss — Forward and derivative contracts — gains on account of foreign exchange difference — Marked to Market Loss-Matter remanded for actual verification of entries in the books of account . [ S.37(1) ]