https://www.taxtmi.com/highlights?id=68532 Disallowance of swap contract loss - whether the loss is not real but a notional loss for the reason that there was no actual transaction carried out by the assessee - We find no infirmity in the impugned order of the CIT(A) allowing the claim of the assessee for deduction on account of Mark-to Market Exchange Loss in respect of Foreign Currency Derivatives Contracts and upholding the same, we dismiss of the Revenue’s appeal. - AT en-us Wed, 01 Mar 2023 12:07:29 +0530 Wed, 01 Mar 2023 12:07:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68532 Disallowance of swap contract loss - whether the loss is not real but a notional loss for the reason that there was no actual transaction carried out by the assessee - We find no infirmity in the impugned order of the CIT(A) allowing the claim of the assessee for deduction on account of Mark-to Market Exchange Loss in respect of Foreign Currency Derivatives Contracts and upholding the same, we dismiss of the Revenue’s appeal. - AT Highlights Income Tax Wed, 01 Mar 2023 12:07:29 +0530 https://www.taxtmi.com/highlights?id=68532