Derivative contracts entered to hedge exchange risk cannot be treated as trading 

PCIT Vs Emmsons International Ltd. (Delhi High Court)

Court is of the view that the same was not called for, as the said CBDT Circular No. 3/2010 dated 2nd March, 2010 has been issued in respect of loss on account of trading in foreign exchange derivatives. In the present case, however, the assessee had entered into der

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