https://www.taxtmi.com/caselaws?id=266341 The Tribunal upheld the CIT(A)'s decision to delete the addition of mark to market loss claimed on derivative transactions for the assessment year 2009-10. The Tribunal found that mark to market losses on derivative transactions are allowable deductions, emphasizing the nature of derivative transactions and the ascertainability of profit or loss. Despite the Revenue's challenge, the Tribunal ruled in favor of the assessee due to the lack of contrary evidence or legal precedent presented. The decision provides clarity on the treatment of mark to market losses in derivative transactions, aligning with established legal principles and precedents. en-us Mon, 15 Jun 2015 00:00:00 +0530 Mon, 19 Oct 2015 20:35:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266341 The Tribunal upheld the CIT(A)'s decision to delete the addition of mark to market loss claimed on derivative transactions for the assessment year 2009-10. The Tribunal found that mark to market losses on derivative transactions are allowable deductions, emphasizing the nature of derivative transactions and the ascertainability of profit or loss. Despite the Revenue's challenge, the Tribunal ruled in favor of the assessee due to the lack of contrary evidence or legal precedent presented. The decision provides clarity on the treatment of mark to market losses in derivative transactions, aligning with established legal principles and precedents. Case-Laws Income Tax Mon, 15 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266341