ICDS II applicability to derivatives: derivatives held as inventory fall under ICDS II because securities exclusion applies. Where an assessee holds derivatives as part of inventory, the valuation and related provisions of ICDS II apply because the definition of securities in ... Summary
ICDS II applicability to derivatives: derivatives held as inventory fall under ICDS II because securities exclusion applies.
Where an assessee holds derivatives as part of inventory, the valuation and related provisions of ICDS II apply because the definition of securities in ICDS VIII expressly excludes derivatives, so such instruments are governed by the inventory valuation standard rather than the securities disclosure regime.
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