https://www.taxtmi.com/caselaws?id=773034 The Gujarat HC allowed the assessee's appeal regarding disallowance of marked to market losses on currency derivative contracts. The court held that the issue was squarely covered by its previous decision in Suzlon Energy Limited case, which was also confirmed by the SC. The HC determined that M to M losses were allowable, rejecting the revenue's contention that such losses were notional or contingent in nature. en-us Tue, 10 Jun 2025 00:00:00 +0530 Tue, 28 Jul 2026 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773034 The Gujarat HC allowed the assessee's appeal regarding disallowance of marked to market losses on currency derivative contracts. The court held that the issue was squarely covered by its previous decision in Suzlon Energy Limited case, which was also confirmed by the SC. The HC determined that M to M losses were allowable, rejecting the revenue's contention that such losses were notional or contingent in nature. Case-Laws Income Tax Tue, 10 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773034