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 June 2017 Year 2017 This

When the contention of the assessee that all the forward ...


Assessee Cannot Claim "Mark to Market" Losses on Forward Contracts Settled by Actual Delivery Using Export Receivables.

June 8, 2017

Case Laws     Income Tax     AT

When the contention of the assessee that all the forward contracts were settled by way of actual delivery through dollars received on export receivables, the assessee cannot be allowed “mark to market” losses on such forward contract - AT

View Source

 


 

You may also like:

  1. 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...

  2. 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...

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

  4. Disallowance of provision for foreign exchange fluctuations and loss on forward contracts u/s 43(5) regarding speculative transactions. It clarifies that foreign...

  5. Allowing mark to market loss on account of outstanding forward contract liability - the forward contract transactions so entered during the course of regular business...

  6. Disallowance of swap contract loss - whether the loss is not real but a notional loss for the reason that there was no actual transaction carried out by the assessee -...

  7. "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...

  8. Depreciation loss - loss arising due to forward contracts - Section 43A - The assessee even under unamended provision is entitled to benefit of the loss claimed by the...

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

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

  11. 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...

  12. Disallowance of mark to market loss - Pertinently, when the AO is accepting the gain offered as income by the assessee following similar accounting method, there is no...

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

  14. 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...

  15. The loss arising on account of cancellation of forward contract would also be a business loss and therefore the assessee is entitled to claim the said loss in his books...

 

Quick Updates:Latest Updates