https://www.taxtmi.com/caselaws?id=68401 The ITAT Jodhpur upheld the decisions of the CIT(A) regarding the treatment of loss in forward contracts, deletion of addition for suppression of closing stock, and deletion of addition for fictitious loss for the assessment year 1991-92. The ITAT ruled that the forward contracts were not speculative but business losses, errors in assessing closing stock led to the deletion of the addition, and the fictitious loss addition was deemed irrelevant due to the dismissal of the suppression of stock claim. As a result, the Department's appeal was dismissed on all grounds. en-us Fri, 25 Feb 2005 00:00:00 +0530 Tue, 29 Mar 2011 17:33:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68401 The ITAT Jodhpur upheld the decisions of the CIT(A) regarding the treatment of loss in forward contracts, deletion of addition for suppression of closing stock, and deletion of addition for fictitious loss for the assessment year 1991-92. The ITAT ruled that the forward contracts were not speculative but business losses, errors in assessing closing stock led to the deletion of the addition, and the fictitious loss addition was deemed irrelevant due to the dismissal of the suppression of stock claim. As a result, the Department's appeal was dismissed on all grounds. Case-Laws Income Tax Fri, 25 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68401