Loss on Forex fluctuations on Forward Contracts are Deductible u/s 37(1) of Income Tax Act: Delhi HC [Read Order]

By Navasree A.M - On December 20, 2022 6:12 pm - 2 mins read

Loss on Forex fluctuations - Forward Contracts - Forex fluctuations on Forward Contracts - Forward Contracts - Income Tax Act - Delhi Highcourt - taxscan

In a recent ruling of Delhi High Court (HC) of Justice Vibhu Bakhru and Justice Purushaindra Kumar Kaurav held that the loss on Foreign Exchange fluctuations on forward contracts are deductible under section 37(1) of the Income Tax Act, 1961. The Revenue has filed the present appeal under Section 260A of the Income Tax Act,…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics