https://www.taxtmi.com/caselaws?id=370033 The Tribunal upheld the decision of Ld. CIT(A) to allow the foreign exchange fluctuation loss, considering it as notional. The judgment was based on the interpretation of CBDT instructions, applicability of marked to market losses, and the distinction between derivative transactions and normal business transactions. The principles established by the Jurisdictional High Court were crucial in determining the allowability of the claimed losses, leading to the dismissal of the Revenue's appeal. en-us Tue, 31 Jul 2018 00:00:00 +0530 Wed, 07 Nov 2018 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370033 The Tribunal upheld the decision of Ld. CIT(A) to allow the foreign exchange fluctuation loss, considering it as notional. The judgment was based on the interpretation of CBDT instructions, applicability of marked to market losses, and the distinction between derivative transactions and normal business transactions. The principles established by the Jurisdictional High Court were crucial in determining the allowability of the claimed losses, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370033