Tribunal held that , fluctuation in foreign exchange loss in derivative Contracts is actual contract for sale of Merchandise is not speculative transaction is deductible. ( AY.2008 -09)
Toshiba Embedded Software (India) Pvt. Ltd. v. DCIT (2018) 64 ITR 675 (Bang) (Trib)
S.28(i):Business loss — Fluctuation in foreign exchange loss — Derivative Contracts —Actual contract for sale of Merchandise is not speculative transaction is deductible.[ S.43(5) ]