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DELHI HIGH COURT
VIBHU BAKHRU, PURUSHAINDRA KUMAR KAURAV
Principal Commissioner of Income Tax, Delhi-2 – Appellant
Versus
Simon India Ltd. – Respondent
| Table of Content |
|---|
| 1. revenue appeal against tribunal's order (Para 1 , 2) |
| 2. questions raised for court's consideration (Para 3 , 4) |
| 3. loss on forward contracts issue (Para 5 , 6) |
| 4. ao's rationale for disallowance (Para 7 , 8 , 9) |
| 5. assessee's claims on dividend income (Para 10 , 11 , 12) |
| 6. cit(a) finds ao in error (Para 14 , 15) |
| 7. tribunal's agreement with cit(a) (Para 18 , 19 , 20 , 21) |
| 8. court's view on notional losses (Para 22 , 23) |
| 9. forward contracts allowance reasoning (Para 25 , 26) |
| 10. no substantial question of law arises (Para 32 , 40) |
JUDGMENT
Vibhu Bakhru, J.
1. The Revenue has filed the present appeal under Section 260A of the Income Tax Act, 1961 (hereafter `the Act') impugning an order dated 30.05.2017 (hereafter `the impugned order') passed by the Income Tax Appellate Tribunal, Delhi (hereafter `the Tribunal') in an appeal preferred by the Revenue (being ITA No.976/Del/2013) against the order dated 05.11.2012 (hereafter `the appellate order') passed by the learned Commissioner of Income Tax (Appeals) [hereafter `CIT(A)'
2. The Assessee had also preferred an appeal before the learned Tribunal against the appellate order being ITA 555/Del/2013, which was partly allowe
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