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Tax Treatment for unit situated at Seepz

This query is : Resolved 
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(Querist)
21 July 2011 Dear Sir's & Friends,

We have a unit at Seepz & our unit books Forward Contract against Exports. Sometimes this Forward Contract gets unutilised. My question is will profit or loss incurred on cancellation of such forward contract will liable to Tax even if the unit is enjoying tax holidays U/s. 10A.

Regards,
Yajuvendra Rawat
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
22 July 2011 If it relates to your business for which exemption is available then No otherwise if it is only trading then yes.
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