https://www.taxtmi.com/caselaws?id=799433 Unrealised mark-to-market gains on specified excluded forward exchange contracts are recognised for tax purposes only on settlement under Section 43AA and Income Computation and Disclosure Standard VI. Paragraph 8(5) requires settlement-based recognition of exchange differences for those contracts; financial-reporting recognition under Accounting Standard-11 does not control taxable-income computation. Accordingly, unrealised gains recorded in the books before settlement are not taxable in the relevant years, and additions based on such pre-settlement recognition are unsustainable. en-us Thu, 06 Aug 2026 00:00:00 +0530 Tue, 22 Sep 2026 08:17:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799433 Unrealised mark-to-market gains on specified excluded forward exchange contracts are recognised for tax purposes only on settlement under Section 43AA and Income Computation and Disclosure Standard VI. Paragraph 8(5) requires settlement-based recognition of exchange differences for those contracts; financial-reporting recognition under Accounting Standard-11 does not control taxable-income computation. Accordingly, unrealised gains recorded in the books before settlement are not taxable in the relevant years, and additions based on such pre-settlement recognition are unsustainable. Case-Laws Income Tax Thu, 06 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799433