Forward Contracts not by way of Trading in Foreign Exchange Derivatives: SC dismisses SLP filed by Income Tax Dept [Read Order]

SC dismisses SLP filed by the Income Tax Department, challenging the order of the Delhi HC regarding forward contracts not by way of trading in foreign exchange derivatives
Foreign Exchange - special leave petition - Income Tax Department -TAXSCAN

The Supreme Court dismissed a special leave petition (SLP) filed by the Income Tax Department, challenging the order of the Delhi High Court regarding forward contracts not by way of trading in foreign exchange derivatives. The Delhi High Court observed that “In the present case, however, the assessee had entered into derivative contracts in order…

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