Held that whether hedging transaction in edible oils was against another hedging transaction in coal or it was to guard against risk of merchandise in stock falling in value. Matter remanded,   CBDT Circular No. 23 (XXXIX-4). As regards bad debts  the matter was to be restored to Assessing Officer for verification as to whether assessee offered such an amount in earlier years as income and this amount was properly written off in account books. (AY. 2012-13)