https://www.taxtmi.com/caselaws?id=259166 The case involved issues regarding the disallowance of foreign exchange losses on mark-to-market forward contracts, professional fees paid to a sister concern, and share of common marketing expenses. The Tribunal allowed the foreign exchange loss as a deductible business expense, overturned the disallowance of professional fees, and remanded the issue of marketing expenses for further verification. The Tribunal stressed the importance of consistent accounting practices and fair assessment of legitimate business expenses. en-us Fri, 27 Mar 2015 00:00:00 +0530 Sat, 02 May 2015 07:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259166 The case involved issues regarding the disallowance of foreign exchange losses on mark-to-market forward contracts, professional fees paid to a sister concern, and share of common marketing expenses. The Tribunal allowed the foreign exchange loss as a deductible business expense, overturned the disallowance of professional fees, and remanded the issue of marketing expenses for further verification. The Tribunal stressed the importance of consistent accounting practices and fair assessment of legitimate business expenses. Case-Laws Income Tax Fri, 27 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259166