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 September 2017 Year 2017 This

Forward contract loss - speculation loss or not - trading of ...


Income Tax Authorities Rule Gold Forward Contract Loss as Hedging, Qualifying as Business Loss, Not Speculative Loss.

September 5, 2017

Case Laws     Income Tax     HC

Forward contract loss - speculation loss or not - trading of gold and bullion - CIT(A) and ITAT has rightly considered all the materials on record to conclude that the impugned loss amounts to hedging loss and constitutes business loss. - HC

View Source

 


 

You may also like:

  1. Loss in connection with the hedging contract - business loss or speculative loss - For the purpose of hedging the loss due to fluctuation in foreign exchange while...

  2. 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...

  3. Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

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

  5. Disallowance of deduction on account of payment to L&T Ltd. for reimbursement of employee related option scheme was rejected as the payments were not doubted by the...

  6. Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

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

  8. Loss on Forward Contracts in foreign exchange - such transactions were carried out in the normal course of business to guard against the fluctuation in foreign exchange...

  9. The ITAT held that the Central Board of Direct Taxes (CBDT) circulars are binding on the Income Tax Authorities. The Board for Industrial and Financial Reconstruction...

  10. CIRP - Carry forward of losses - The benefit of carry forward of losses can be availed by the Appellant subject of opportunity to be given to Income Tax Authority to...

  11. Forward contract cancellation loss - In order to hedge against losses, the assessee had booked foreign exchange in the forward market with the bank. - allowed as business loss - HC

  12. Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

  13. 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...

  14. Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....

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

 

Quick Updates:Latest Updates