Home Highlights February 2015 Year 2015 This

You may also like:

1. Accrual of income or loss - Provision for FCNR fluctuation loss - The liability has neither been ascertained nor crystallised as on the Balance Sheet date - deduction...

2. Disallowance on provision of loss on derivative contracts - The loss sustained by the assessee due to fluctuation in foreign exchange while implementing export contract...

3. Loss on valuation of foreign exchange contract on M2M basis - Loss on forward contracts - speculative loss - The AO disallowed the addition on the grounds that the...

4. MAT computation - loss arising from foreign exchange fluctuation - Though before us the Revenue contended that the assessee has made only a provision, we find that...

5. The assessee, a Foreign Portfolio Investor registered in India, entered into Forward Foreign Exchange Contracts (FCC) with HDFC Bank to safeguard against foreign...

6. TP Adjustment - Reduction of economic adjustment on foreign exchange fluctuation loss - in principle, the foreign exchange fluctuation loss adjustment has to be given...

7. Nature of loss - Speculative loss or normal business loss - Marked to market loss on hedging of the transaction - The Appellate Tribunal held that speculative...

8. Relinquishment of Asset - extinguishment of rights - reduction in paid up equity share capital? - loss can be described as notional loss and it is settled principle that...

9. 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...

10. Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

11. Disallowance of mark to market losses - Nature of loss - allowable business loss or not? - The assessee is consistently following the method of accounting. Therefore,...

12. Claim towards bad debts - if the provision written back is the excess provision than the money realized, then that would 100% be brought to tax apart from the fact that...

13. Loss of precious metal - Notional loss or actual loss - Abnormal loss incurred by the assessee can be treated as revenue expenditure to be allowable during this year or...

14. 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...

15. 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...