Held that loss on account of cancellation of forward contracts cannot be termed as speculative in nature as no motive or action in this regard is in existence. (AY. 2009-10)(ITA No. 6160/ Delhi/ 2016 dt.30-4-2024)
DCIT v. J.K. Techno Soft Ltd (2024) Chamber’s Journal-June-P. 116 (Delhi)(Trib)
S. 43(5) : Speculative transaction-Forward exchange contract-Loss on cancellation is held to be non speculative in nature.
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