Loss from Hedging Contracts of Foreign Exchange is Normal Business Loss

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

Please become a Premium member. If you are already a Premium member, login here to access the full content.