CESTAT: Foreign currency profit not taxable under Finance Act, 1994

The Appellate Tribunal CESTAT NEW DELHI allowed the appeal, holding that the margin of profit from foreign currency deals is not taxable under the Finance Act, 1994. The adjudicating authority's decision to drop the proceedings was upheld, overturning the ruling in favor of the Revenue by the first appellate authority. The appeal was allowed, and the stay petition was disposed of accordingly.

---

---

The Appellate Tribunal CESTAT NEW DELHI allowed the appeal as the margin of profit from foreign currency deals is not taxable under the Finance Act, 1994. The adjudicating authority rightly dropped the proceedings, and the first appellate authority ruled in favor of the Revenue. The appeal was allowed, and the stay petition was disposed of accordingly.

---