https://www.taxtmi.com/caselaws?id=780051 ITAT held that losses on settlement of target redemption forward contracts, entered to hedge export receivables in JPY, are normal business losses incidental to the core export business and not speculative. The tribunal rejected the revenue's contention about transaction size and noted prior taxation of gains from such hedges; it relied on HC precedent holding similar hedge losses non-speculative. Consequently the losses were allowed to be set off against business income and the revenue's grounds were dismissed. en-us Wed, 08 Oct 2025 00:00:00 +0530 Fri, 17 Oct 2025 08:08:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780051 ITAT held that losses on settlement of target redemption forward contracts, entered to hedge export receivables in JPY, are normal business losses incidental to the core export business and not speculative. The tribunal rejected the revenue's contention about transaction size and noted prior taxation of gains from such hedges; it relied on HC precedent holding similar hedge losses non-speculative. Consequently the losses were allowed to be set off against business income and the revenue's grounds were dismissed. Case-Laws Income Tax Wed, 08 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780051