https://www.taxtmi.com/caselaws?id=352324 The Tribunal directed the Assessing Officer to re-examine the nature of forward contracts to determine if they qualify as hedging transactions and to reconsider the disallowance of exchange fluctuation loss accordingly. The disallowances under Section 14A and Section 36(1)(iii) were upheld. en-us Wed, 04 Oct 2017 00:00:00 +0530 Tue, 12 Dec 2017 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352324 The Tribunal directed the Assessing Officer to re-examine the nature of forward contracts to determine if they qualify as hedging transactions and to reconsider the disallowance of exchange fluctuation loss accordingly. The disallowances under Section 14A and Section 36(1)(iii) were upheld. Case-Laws Income Tax Wed, 04 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352324