Disallowance of marked-to-market losses: deduction barred for expected losses except where allowed under section 36(1)(xviii). The amendment to section 40A provides that no deduction or allowance shall be allowed in respect of any marked to market loss or other expected loss, except as allowable under clause (xviii) of sub section (1) of section 36; the provision is deemed effective from 1 April 2017 and restricts tax deductibility of unrealized or prospective losses save for the specified statutory exception.
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.
Disallowance of marked-to-market losses: deduction barred for expected losses except where allowed under section 36(1)(xviii).
The amendment to section 40A provides that no deduction or allowance shall be allowed in respect of any marked to market loss or other expected loss, except as allowable under clause (xviii) of sub section (1) of section 36; the provision is deemed effective from 1 April 2017 and restricts tax deductibility of unrealized or prospective losses save for the specified statutory exception.
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