Home Highlights December 2016 Year 2016 This

You may also like:

1. Foreign exchange gain taxability - restatement of foreign currency loan - AO directed to grant deduction of notional exchange loss in the subsequent assessment years - AT

2. Nature of Liability – Contingent or not – Loss of fluctuation of foreign exchange - the restatement had come at the end of the accounting year and that the present...

3. Foreign exchange gain pertaining to marketing commission segment should be considered as operating income - AT

4. Deduction u/s 10A - foreign exchange gain - the gain on receipts of foreign exchange as export proceeds are extricably linked, eligible for exemption u/s 10A - AT

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. Addition made on account of gains from cancellation of forward contract - Allegation that, the so-called asset could not be created not any foreign exchange loan was...

7. Definitions - Regulation 2 of the FOREIGN EXCHANGE MANAGEMENT (FOREIGN EXCHANGE DERIVATIVE CONTRACTS) REGULATIONS, 2000 as amended

8. See Regulation 4 - Permissible foreign exchange derivative contract - - Schedule I of the FOREIGN EXCHANGE MANAGEMENT (FOREIGN EXCHANGE DERIVATIVE CONTRACTS)...

9. Permission to enter into a foreign exchange derivative contract - Regulation 4 of the FOREIGN EXCHANGE MANAGEMENT (FOREIGN EXCHANGE DERIVATIVE CONTRACTS) REGULATIONS,...

10. Disallowance of foreign exchange loss on restatement of Export Earners Foreign Currency (EEFC) account - Since the transaction in EEFC account undertaken during the year...

11. Revenue receipt or capital receipt - Foreign exchange gain written back on cancellation of vessel construction contract taxed u/s. 28(iv) - The ITAT agreed with the...

12. Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2019

13. TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from...

14. Disallowance of wage arrears u/s 40a(ia) - contingent liability or not - non deduction of TDS - assessee created an adhoc provision for wage arrears - Liability has been...

15. Disallowance of foreign exchange loss on restatement of working capital loans and gold loans - In this case, the assessee has taken foreign currency working capital for...