https://www.taxtmi.com/caselaws?id=181643 The Tribunal upheld the CIT(A)'s decision to allow the 'Mark-to-Market' loss on re-valuation of forward contract agreements for A.Y. 2009-10. The appeal by the Revenue was dismissed, affirming that since gains on revaluation were previously taxed, there was no basis to disallow the loss in the current year. The Tribunal's decision, based on legal precedents and consistent principles, was pronounced on 24th June 2015. en-us Wed, 24 Jun 2015 00:00:00 +0530 Thu, 21 Apr 2016 10:22:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181643 The Tribunal upheld the CIT(A)'s decision to allow the 'Mark-to-Market' loss on re-valuation of forward contract agreements for A.Y. 2009-10. The appeal by the Revenue was dismissed, affirming that since gains on revaluation were previously taxed, there was no basis to disallow the loss in the current year. The Tribunal's decision, based on legal precedents and consistent principles, was pronounced on 24th June 2015. Case-Laws Income Tax Wed, 24 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181643