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<h1>SC dismisses special leave petition for low tax effect, condones delay, disposes pending applications, no respondent representation.</h1> <h3>Commissioner of Income Tax 3 Mumbai Versus The Paper Products Ltd</h3> The SC of India dismissed a special leave petition due to low tax effect. Delay was condoned, pending applications disposed of, with no representation by ... Unexplained foreign exchange forward contract - Tribunal holding that the notional loss on unexplained foreign exchange forward contract was in the nature of stock in trade capable of being valued at cost or market price - Held that:- Leaving the question of law open, this special leave petition is dismissed on the ground of low tax effect. The Supreme Court of India dismissed a special leave petition due to low tax effect. The delay was condoned, and pending applications were disposed of. No representation was made by the respondent.