{"id":3196,"date":"2018-12-11T10:09:24","date_gmt":"2018-12-11T10:09:24","guid":{"rendered":"http:\/\/itatonline.org\/digest\/edel-commodities-ltd-v-dy-cit-2018-194-ttj-86-mum-trib-2\/"},"modified":"2018-12-11T10:09:24","modified_gmt":"2018-12-11T10:09:24","slug":"edel-commodities-ltd-v-dy-cit-2018-194-ttj-86-mum-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/edel-commodities-ltd-v-dy-cit-2018-194-ttj-86-mum-trib-2\/","title":{"rendered":"Edel Commodities Ltd. v. Dy. CIT (2018) 194 TTJ 86 (Mum.)(Trib.)"},"content":{"rendered":"<p>The Tribunal held that when the derivatives are held as stock-in-trade, the mark to market loss on such derivatives is allowable, since such stock is valued on the principle of cost or market value whichever is lower. CBDT Circular no. 3\/2010 not binding on the appellate authorities and that the same is going against the judgment of the Apex Court. (AY. 2011-12).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(i) : Business loss \u2013 Mark to market loss in derivative transactions \u2013 derivatives held as stock-in-trade \u2013 valued on the principle of cost or market value whichever is lower \u2013 Held, allowable.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3196","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Py","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=3196"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3196\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}