https://www.taxtmi.com/caselaws?id=285507 The Tribunal allowed the assessee's appeal in part, directing a fresh adjudication by the TPO/AO considering additional evidence. The loss on cancellation/roll over of Forward Foreign Exchange Contracts was held to be under the head income from other sources. The Tribunal classified the loss on extension of FFEC as capital loss, dismissing the revenue's grounds and partly allowing the assessee's. The appeal of the assessee was partly allowed, while the AO's appeal was dismissed, resulting in a favorable outcome for the assessee on the issues discussed. en-us Fri, 05 Jan 2018 00:00:00 +0530 Thu, 16 Jan 2020 11:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285507 The Tribunal allowed the assessee's appeal in part, directing a fresh adjudication by the TPO/AO considering additional evidence. The loss on cancellation/roll over of Forward Foreign Exchange Contracts was held to be under the head income from other sources. The Tribunal classified the loss on extension of FFEC as capital loss, dismissing the revenue's grounds and partly allowing the assessee's. The appeal of the assessee was partly allowed, while the AO's appeal was dismissed, resulting in a favorable outcome for the assessee on the issues discussed. Case-Laws Income Tax Fri, 05 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285507