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Business-Linked Losses: ITAT Confirms Deductibility of Exchange – Difference Derivatives for Exporters
Case Law Details
- Case Name
- DCIT Vs Fiem Industries Ltd (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs Fiem Industries Ltd (ITAT Delhi)
Hedging losses not speculative – ITAT Delhi upholds ₹ 18.6 Cr business loss on forward contracts- Only genuine hedging, not gambling – ITAT Delhi reaffirms s. 43(5) protection for exporters
Revenue filed appeal against the order of CIT(A) deleting additions of ₹ 17.70 crore & ₹ 0.89 crore made by AO on account of loss on settlement of target-redemption forward contracts & exchange-difference derivatives respectively.
Assessee, a manufacturer of automotive lighting, mirrors & sheet-metal components supplied to OEMs such as HMSI, TVS...
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