https://www.taxtmi.com/caselaws?id=429651 The tribunal set aside the decision disallowing the hedging loss and bad debts, directing the Assessing Officer to verify the facts regarding the nature of the transactions. The tribunal highlighted the need for factual verification to determine if the transactions were genuinely hedging or speculative, and if the bad debts were properly accounted for in previous years. The case was remanded back to the AO for further examination in accordance with the relevant provisions of the Income Tax Act. en-us Mon, 31 Oct 2022 00:00:00 +0530 Wed, 02 Nov 2022 09:12:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429651 The tribunal set aside the decision disallowing the hedging loss and bad debts, directing the Assessing Officer to verify the facts regarding the nature of the transactions. The tribunal highlighted the need for factual verification to determine if the transactions were genuinely hedging or speculative, and if the bad debts were properly accounted for in previous years. The case was remanded back to the AO for further examination in accordance with the relevant provisions of the Income Tax Act. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429651