2014 (4) TMI 1230

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..... Assessing Officer in terms of proviso ‘D’ of Section 43(5)? - Held that:- Tribunals consistently held that the loss/expenditure claimed by the assessee on account of fluctuation in the rate of foreign exchange couldn’t be considered to be notional by following the instruction No.3 of 2010 of CBDT. Therefore, we do not find any element of law to be decided in this appeal. Accordingly, we dismis .....

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..... e CBDT instruction No.3 of 2010, when the said amount was rightly disallowed by the Assessing Officer in terms of proviso D of Section 43(5) of the Act? (ii) In the facts and circumstances of the case, whether the learned Tribunal is correct in law in directing the Assessing Officer to delete the subject addition made with regard to Market to Market (MTM) loss claimed by the respondent-assess .....

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