Case Law Details
Case Name : ACIT Vs Sopra India Pvt. Ltd. (ITAT Delhi)
Appeal Number : ITA No. 1175/Del/2019
Date of Judgement/Order : 16/10/2023
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Delhi
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ACIT Vs Sopra India Pvt. Ltd. (ITAT Delhi)
ITAT Delhi held that ‘mark to market’ loss on future and forward contracts are not notional loss of contingent nature. Accordingly, foreign exchange fluctuation loss as claimed by the assessee allowed.
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