https://www.taxtmi.com/caselaws?id=245665 The Tribunal allowed the marked to market losses on foreign exchange contracts, citing the deductibility of unrealized losses due to foreign exchange fluctuations as expenditure under section 37(1) of the Income Tax Act. However, the Tribunal dismissed the claim for the write-off of the non-compete fee, following judicial precedence and previous decisions against the assessee. en-us Fri, 28 Mar 2014 00:00:00 +0530 Fri, 04 Apr 2014 10:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245665 The Tribunal allowed the marked to market losses on foreign exchange contracts, citing the deductibility of unrealized losses due to foreign exchange fluctuations as expenditure under section 37(1) of the Income Tax Act. However, the Tribunal dismissed the claim for the write-off of the non-compete fee, following judicial precedence and previous decisions against the assessee. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245665