Marked-to-market loss disallowance: deductions barred except as permitted under section 36 clause, for business income computation. The amendment inserts a provision in section 40A disallowing any deduction or allowance for any marked to market loss or other expected loss, except as allowable under the allowance provision in section 36; the insertion is to operate retrospectively from the first day of April, 2017 and apply to the relevant assessment year and subsequent years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Marked-to-market loss disallowance: deductions barred except as permitted under section 36 clause, for business income computation.
The amendment inserts a provision in section 40A disallowing any deduction or allowance for any marked to market loss or other expected loss, except as allowable under the allowance provision in section 36; the insertion is to operate retrospectively from the first day of April, 2017 and apply to the relevant assessment year and subsequent years.
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