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Case Law Details

Case Name : M/s ITT Shipping Pvt. Ltd. Vs Pr. CIT-3 (ITAT Kolkata)
Appeal Number : I.T.A No. 1014/Kol/2017
Date of Judgement/Order : 2012-13
Related Assessment Year :
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M/s ITT Shipping Pvt. Ltd. Vs Pr. CIT (ITAT Kolkata)

When the assessee is not dealer in foreign exchange and as a part of his normal business activity, enters into hedging contracts of foreign exchange, the loss in question is normal business loss and cannot be held a “Speculation Loss” as covered by Section 43(5) of the Act. The Vi

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