Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2014 Year 2014 This

Mark-to-market loss treated as contingent loss - no prudent ...


Assessing Officer's Addition Deleted as Mark-to-Market Losses Seen as Contingent, Not Realized Profits.

January 27, 2014

Case Laws     Income Tax     AT

Mark-to-market loss treated as contingent loss - no prudent trader would care to show increased profits before actual realization - the addition made by the AO deleted - AT

View Source

 


 

You may also like:

  1. Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

  2. Revision u/s 263 by CIT-A - AO’s order is not erroneous and prejudicial to the interest of revenue since mark to market loss incurred by Company on revaluation of...

  3. Mark to market loss - Contingent loss or not - Unrealized foreign exchange forward contract losses - 'mark to market' loss on such future and forward contracts are not a...

  4. Disallowance of foreign exchange fluctuation loss - mark to market loss - There is hardly any quarrel on such DRP’s directions are binding on an Assessing Officer u/s...

  5. Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

  6. The CIT(A) partly allowed and restricted the addition on account of commission expenses at 0.25% as compared to 2% adopted by the Assessing Officer. The coordinate bench...

  7. The assessee, Adobe Systems Software Ireland Limited, is a company incorporated under Irish laws and a tax resident of Ireland per the India-Ireland tax treaty. The...

  8. Disallowance of loss from trading in penny shares was rejected. The Assessing Officer's finding that the trading loss was not commercially prudent was not accepted. The...

  9. Deduction of mark to market losses (MTM) - MTM losses arising out of contractual obligation existing on the reporting date cannot be regarded as contingent or notional...

  10. "Mark to Market” loss - AO did not disallow the claim of loss but CIT(A) disallowed the claim of loss - In the absence of any fact with regard to the nature of the said...

  11. Protective addition made by Assessing Officer was not sustainable as substantive addition did not survive in concluded assessment proceedings of related party. CIT(A)...

  12. The assessee's contentions were upheld by the Tribunal regarding various additions made by the Assessing Officer. The Tribunal ruled that the RTGS transfer from the...

  13. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

  14. Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

  15. Estimation of business income - The learned CIT (A) confirmed addition merely harping on non-compliance by assessee before the Assessing Officer and not applying his...

 

Quick Updates:Latest Updates