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Disallowance of loss

This query is : Resolved 
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(Querist)
24 August 2012 A company has done hedging of Forex and suffered a loss of Rs.150000/-.
the activity is not in the objects of the company.
Can the loss be allowed to be set off against business income?
whether section 14A of the act apply?
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
24 August 2012 Hedging of Foreign Currency payable, If Payable in Business, Then Its Part of Busines Income.

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