2014 (4) TMI 1230

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....ht to be preferred and admitted against the judgment and order of the learned Tribunal dated 23rd August, 2013 in relation to the assessment year 2008-09 on the following suggested questions of law: (i) In the facts and circumstances of the case, whether the learned Tribunal is correct in law in holding that the loss/expenditure claimed by the respondent-assessee on account of fluctuation in the....

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....ng and sale of cigarettes and in the process of its business activity it exports cigarettes to foreign countries. It is also a fact that for the purpose of its export/import activities, the assessee has entered into forward contracts with banks relating to its export/import business transactions." On aforesaid factual position, the learned Tribunals consistently held that the loss/expenditure cla....