Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Speculative loss or not - Determine the nature of losses on forward foreign exchange contracts and foreign exchange derivative contracts - the tribunal found the evidence provided by the appellant to be insufficient in establishing the nature of the losses. It highlighted discrepancies in the claimed amounts and noted a lack of clarity regarding the cancellation of contracts. Consequently, the tribunal set aside the CIT(A)'s decision and remanded the issue for further examination. It emphasized the importance of establishing a direct connection between the transactions and the appellant's business activities.
Speculative loss or not - Determine the nature of losses on forward foreign exchange contracts and foreign exchange derivative contracts - the tribunal found the evidence provided by the appellant to be insufficient in establishing the nature of the losses. It highlighted discrepancies in the claimed amounts and noted a lack of clarity regarding the cancellation of contracts. Consequently, the tribunal set aside the CIT(A)'s decision and remanded the issue for further examination. It emphasized the importance of establishing a direct connection between the transactions and the appellant's business activities.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
