https://www.taxtmi.com/caselaws?id=239231 The tribunal partly decided in favor of the assessee regarding the disallowance of proportionate interest expenditure, directing the AO to recalculate the interest disallowance based on the investment made during the year only. However, the tribunal upheld the disallowance of the mark-to-market loss on outstanding forward contracts, considering them speculative transactions. The appeal by the assessee was partly allowed, with the tribunal's decision announced on 3.5.2013. en-us Fri, 03 May 2013 00:00:00 +0530 Sat, 09 Nov 2013 06:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239231 The tribunal partly decided in favor of the assessee regarding the disallowance of proportionate interest expenditure, directing the AO to recalculate the interest disallowance based on the investment made during the year only. However, the tribunal upheld the disallowance of the mark-to-market loss on outstanding forward contracts, considering them speculative transactions. The appeal by the assessee was partly allowed, with the tribunal's decision announced on 3.5.2013. Case-Laws Income Tax Fri, 03 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239231