https://www.taxtmi.com/caselaws?id=305858 Prior decisions of the Bombay High Court had already settled the treatment of loss on foreign exchange forward contracts in favour of the assessee on the identical question. Because the issue was covered by that binding precedent, the proposed challenge did not raise any substantial question of law under Section 260-A of the Income-tax Act, 1961. The issue was therefore answered in favour of the assessee and against the Revenue, and the appeal point was not entertained. en-us Mon, 08 Jan 2018 00:00:00 +0530 Wed, 28 Dec 2022 08:18:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305858 Prior decisions of the Bombay High Court had already settled the treatment of loss on foreign exchange forward contracts in favour of the assessee on the identical question. Because the issue was covered by that binding precedent, the proposed challenge did not raise any substantial question of law under Section 260-A of the Income-tax Act, 1961. The issue was therefore answered in favour of the assessee and against the Revenue, and the appeal point was not entertained. Case-Laws Income Tax Mon, 08 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305858