https://www.taxtmi.com/caselaws?id=273369 Loss from forward foreign exchange contracts entered into by an FII as a hedging mechanism was treated as capital in nature, not as income from other sources, because the Tribunal followed its coordinate bench view in the assessee's own earlier years on materially identical facts. The analysis also notes that the departmental challenge to relief under the India-Singapore DTAA did not succeed. The operative principle applied was that hedging losses on such contracts, where previously characterised in the capital field on the same factual matrix, retain that character and are not taxable under the head income from other sources. en-us Wed, 17 Jul 2013 00:00:00 +0530 Thu, 21 Jun 2018 12:50:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273369 Loss from forward foreign exchange contracts entered into by an FII as a hedging mechanism was treated as capital in nature, not as income from other sources, because the Tribunal followed its coordinate bench view in the assessee's own earlier years on materially identical facts. The analysis also notes that the departmental challenge to relief under the India-Singapore DTAA did not succeed. The operative principle applied was that hedging losses on such contracts, where previously characterised in the capital field on the same factual matrix, retain that character and are not taxable under the head income from other sources. Case-Laws Income Tax Wed, 17 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273369