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![ITAT allows Set Off of Loss arising out of Cancellation of Foreign Exchange / Forward Contract [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Foreign-Exchange.jpg "ITAT allows Set Off of Loss arising out of Cancellation of Foreign Exchange / Forward Contract [Read Order]")
ITAT allows Set Off of Loss arising out of Cancellation of Foreign Exchange / Forward Contract [Read Order]
In Arjav diamonds India Pvt Ltd v. ACIT, the Mumbai ITAT held that set off under the Income Tax Act can be allowed for loss arising out of...