https://www.taxtmi.com/caselaws?id=328574 The Tribunal allowed the Assessee's appeal, directing the Assessing Officer to withdraw the disallowed losses on settlement dates and tax the gains on settled contracts to avoid prejudice or double benefit. The decision emphasized adherence to accounting principles and the treatment of gains on derivative contracts to ensure consistency, fairness, and compliance with legal standards. en-us Wed, 01 Jun 2016 00:00:00 +0530 Wed, 08 Jun 2016 19:47:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328574 The Tribunal allowed the Assessee's appeal, directing the Assessing Officer to withdraw the disallowed losses on settlement dates and tax the gains on settled contracts to avoid prejudice or double benefit. The decision emphasized adherence to accounting principles and the treatment of gains on derivative contracts to ensure consistency, fairness, and compliance with legal standards. Case-Laws Income Tax Wed, 01 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328574