https://www.taxtmi.com/caselaws?id=177654 The Tribunal remitted the matter back to the Assessing Officer for recalculating the disallowance under Section 14A of the Income Tax Act after examining the break-up of investments. Regarding the disallowance under Section 40(a)(i) for commission payments to overseas agencies, the Tribunal upheld the deletion of disallowance for a portion of the commission but remitted another claim back to the AO for further examination. Additionally, the Tribunal allowed the deduction for foreign exchange fluctuation losses, citing relevant case law. The Tribunal's decision was pronounced on August 27, 2013, in Chennai. en-us Tue, 27 Aug 2013 00:00:00 +0530 Fri, 09 Dec 2016 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177654 The Tribunal remitted the matter back to the Assessing Officer for recalculating the disallowance under Section 14A of the Income Tax Act after examining the break-up of investments. Regarding the disallowance under Section 40(a)(i) for commission payments to overseas agencies, the Tribunal upheld the deletion of disallowance for a portion of the commission but remitted another claim back to the AO for further examination. Additionally, the Tribunal allowed the deduction for foreign exchange fluctuation losses, citing relevant case law. The Tribunal's decision was pronounced on August 27, 2013, in Chennai. Case-Laws Income Tax Tue, 27 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177654