https://www.taxtmi.com/caselaws?id=263829 The Tribunal partly allowed the appeal, holding that forward contracts for hedging purposes in forex transactions do not constitute speculative transactions and can be claimed as a business loss, subject to not exceeding the export turnover. However, any excess beyond the export turnover should be treated as speculative loss. The Assessing Officer was instructed to recalculate the business loss accordingly, considering the proximity with the export turnover. en-us Wed, 26 Aug 2015 00:00:00 +0530 Fri, 11 Sep 2015 07:52:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263829 The Tribunal partly allowed the appeal, holding that forward contracts for hedging purposes in forex transactions do not constitute speculative transactions and can be claimed as a business loss, subject to not exceeding the export turnover. However, any excess beyond the export turnover should be treated as speculative loss. The Assessing Officer was instructed to recalculate the business loss accordingly, considering the proximity with the export turnover. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263829