https://www.taxtmi.com/highlights?id=50988 The loss arising on cancellation of foreign currency forward contracts cannot be treated as speculative loss u/s 43(5) - It is not required by the assessee to establish a one–to–one linkage between the forward contracts and the export/import transaction. What is required to look at is, whether the amount of hedging transaction is within the amount of underlying transaction of imports and export. en-us Wed, 01 Jan 2020 18:01:16 +0530 Wed, 01 Jan 2020 18:01:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=50988 The loss arising on cancellation of foreign currency forward contracts cannot be treated as speculative loss u/s 43(5) - It is not required by the assessee to establish a one–to–one linkage between the forward contracts and the export/import transaction. What is required to look at is, whether the amount of hedging transaction is within the amount of underlying transaction of imports and export. Highlights Income Tax Wed, 01 Jan 2020 18:01:16 +0530 https://www.taxtmi.com/highlights?id=50988