Disallowance of foreign exchange loss on account of marking to ...

Foreign exchange loss from marking to market of forward contracts is deductible u/s 37 of the Income Tax Act.

May 2, 2015

Case Laws Income Tax AT

Disallowance of foreign exchange loss on account of marking to mark to market of forward contracts - "expenditure" as used in section 37 in Income Tax Act may in the circumstances of a particular case cover an amount which is a "loss" even though said amount has not been given from the pocket of the assessee. - AT

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Disallowance of foreign exchange loss on account of marking to ...

Foreign exchange loss from marking to market of forward contracts is deductible u/s 37 of the Income Tax Act.

May 2, 2015

Case Laws Income Tax AT

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