https://www.taxtmi.com/caselaws?id=271797 The Tribunal allowed the assessee's appeal, directing the assessing officer to treat the loss of Rs. 7.84 crores arising from the cancellation of foreign exchange forward contracts as a business loss. The Tribunal emphasized that forward contracts entered into by exporters for hedging purposes are integral to their business activities and not speculative transactions, in line with precedents such as CIT Vs. Badridas Gauridu Pvt Ltd and CIT Vs. Sooraj Mull Nagarmull. en-us Wed, 20 Jan 2016 00:00:00 +0530 Wed, 17 Feb 2016 06:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271797 The Tribunal allowed the assessee's appeal, directing the assessing officer to treat the loss of Rs. 7.84 crores arising from the cancellation of foreign exchange forward contracts as a business loss. The Tribunal emphasized that forward contracts entered into by exporters for hedging purposes are integral to their business activities and not speculative transactions, in line with precedents such as CIT Vs. Badridas Gauridu Pvt Ltd and CIT Vs. Sooraj Mull Nagarmull. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271797