https://www.taxtmi.com/caselaws?id=273681 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order regarding the deletion of notional loss on foreign exchange fluctuation derivatives for Assessment Year 2008-09. The Court found that the lack of jurisdiction for the Commissioner of Income Tax to exercise powers under Section 263 was accepted by the Revenue, rendering the issue academic and not raising any substantial question of law. Consequently, the appeal was dismissed without costs. en-us Mon, 03 Apr 2017 00:00:00 +0530 Tue, 10 Jul 2018 05:50:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273681 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order regarding the deletion of notional loss on foreign exchange fluctuation derivatives for Assessment Year 2008-09. The Court found that the lack of jurisdiction for the Commissioner of Income Tax to exercise powers under Section 263 was accepted by the Revenue, rendering the issue academic and not raising any substantial question of law. Consequently, the appeal was dismissed without costs. Case-Laws Income Tax Mon, 03 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273681