https://www.taxtmi.com/caselaws?id=207212 The Tribunal upheld the deletion of addition towards discounting charges, disallowance under Section 14A was remanded back to the AO, deduction for bad debts was allowed in full, the disallowance of loss on revaluation of foreign exchange contracts was remanded for fresh consideration, the application of a higher tax rate was upheld, disallowance of SWAP cost was confirmed, and charging of interest under Section 234B was allowed only from the date of the retrospective amendment. The Tribunal's judgment provided clarity on various tax issues, affirming some decisions and remanding others for further consideration. en-us Wed, 23 Nov 2011 00:00:00 +0530 Fri, 24 May 2013 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207212 The Tribunal upheld the deletion of addition towards discounting charges, disallowance under Section 14A was remanded back to the AO, deduction for bad debts was allowed in full, the disallowance of loss on revaluation of foreign exchange contracts was remanded for fresh consideration, the application of a higher tax rate was upheld, disallowance of SWAP cost was confirmed, and charging of interest under Section 234B was allowed only from the date of the retrospective amendment. The Tribunal's judgment provided clarity on various tax issues, affirming some decisions and remanding others for further consideration. Case-Laws Income Tax Wed, 23 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207212