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Informative

Disallowance of ₹96.71 Lakh Foreign Exchange Loss on Import-Export Transactions Without Hedging: ITAT upholds CIT(A)’s Decision

Update / Judgement Date

07 Feb 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Corporate ComplianceIncome Tax

The ITAT upheld CIT(A)'s decision to disallow foreign exchange loss on import-export transactions without hedging. The ruling emphasizes the need for proper risk management practices in international trade.