https://www.taxtmi.com/caselaws?id=235740 The Tribunal partially allowed the appeal, directing the Assessing Officer to segregate transactions related to hedging against foreign exchange fluctuations from speculative transactions. The Tribunal emphasized that losses from hedging contracts should be considered business losses if they are connected to underlying business operations. Transactions unrelated to the business should be treated as speculative. The Assessing Officer was instructed to exclude speculative transactions worth Rs. 19,63,702 and make a decision accordingly. The case was remitted back to the Assessing Officer for further action. en-us Fri, 31 May 2013 00:00:00 +0530 Mon, 28 Mar 2016 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235740 The Tribunal partially allowed the appeal, directing the Assessing Officer to segregate transactions related to hedging against foreign exchange fluctuations from speculative transactions. The Tribunal emphasized that losses from hedging contracts should be considered business losses if they are connected to underlying business operations. Transactions unrelated to the business should be treated as speculative. The Assessing Officer was instructed to exclude speculative transactions worth Rs. 19,63,702 and make a decision accordingly. The case was remitted back to the Assessing Officer for further action. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235740