Assessee engaged in business of international trading in commodities, suffered foreign currency loss on foreign exchange forward contracts, loss so incurred was to be allowed as business loss. (AY. 2012-13)
Emmsons International Ltd. v. ACIT (2020) 180 ITD 292 (Delhi)(Trib.)
S. 28(i) : Business loss-Foreign currency loss on foreign exchange forward contracts–Allowable as business loss.