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2015 (9) TMI 1348 - AT - Income TaxDisallowance of the loss incurred on forward contract in foreign exchange - CIT(A) deleted the addition - Held that:- In view of the ratio laid down by the Hon’ble Supreme Court in the case of CIT vs. Woodward Governor India Pvt. Ltd. (2007 (4) TMI 118 - HIGH COURT , DELHI) which squarely covers the issue in favour of the assessee, we uphold the order of the CIT(A) in deleting the addition made on account of disallowance of the loss incurred on forward contract in foreign exchange. The grounds of appeal raised by the Revenue are thus dismissed. - Decided in favour of assessee.
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