Dear Subscriber,
CBDT Order Assigning Jurisdiction To The Dispute Resolution Panel
The CBDT has issued Order No. 5/FT&TR/2013 dated 04.11.2013 specifying the jurisdiction of the Dispute Resolution Panel at Delhi and Mumbai and the cases or classes of cases that they are assigned. The CBDT has also issued Order No. 6/FT&TR/2013 dated 04.11.2013 specifying the reserve members of the DRP at Delhi and Mumbai.
Regards,
Editor,
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Loss on foreign exchange forward contracts is incidental to the exports business and not a "speculation loss". However, if the contract is prematurely cancelled, the assessee has to justify the loss
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