https://www.taxtmi.com/caselaws?id=181640 The Tribunal upheld the CIT(A)'s decision allowing Mark-to-Market loss on forward exchange contracts as a business loss for the appellant in AY 2009-10. The Tribunal emphasized the regular business nature of the appellant's foreign exchange transactions and cited relevant judicial precedents supporting the allowance of such losses. Finding no conflicting judgments, the Tribunal dismissed the Revenue's appeal, affirming the treatment of the loss as a business expense. en-us Tue, 02 Dec 2014 00:00:00 +0530 Thu, 21 Apr 2016 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181640 The Tribunal upheld the CIT(A)'s decision allowing Mark-to-Market loss on forward exchange contracts as a business loss for the appellant in AY 2009-10. The Tribunal emphasized the regular business nature of the appellant's foreign exchange transactions and cited relevant judicial precedents supporting the allowance of such losses. Finding no conflicting judgments, the Tribunal dismissed the Revenue's appeal, affirming the treatment of the loss as a business expense. Case-Laws Income Tax Tue, 02 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181640