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Qualification

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(Querist)
24 August 2012 A company having main object to deal in ball bearings has undertaken hedging of Forex and suffered loss of Rs.150000/-?
We are of the opnion that this act is ultra virus act...
can we qualify the report and what should be its content?
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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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