https://www.taxtmi.com/caselaws?id=328624 The Tribunal allowed the assessee's appeal for A.Y. 2007-08 for statistical purposes. The Revenue's appeals for A.Y. 2009-10 and 2010-11 were partly allowed for statistical purposes. The assessee's challenge regarding the disallowance of Corporate Club Membership Fee for A.Y. 2009-10 was allowed. Additionally, the Tribunal upheld foreign exchange losses as business losses for A.Y. 2009-10 and 2010-11. The disallowance under Section 40(a)(ia) for A.Y. 2009-10 was deleted. The overall outcome favored the assessee on various grounds, with some adjustments made for statistical purposes. en-us Tue, 07 Jun 2016 00:00:00 +0530 Thu, 09 Jun 2016 19:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328624 The Tribunal allowed the assessee's appeal for A.Y. 2007-08 for statistical purposes. The Revenue's appeals for A.Y. 2009-10 and 2010-11 were partly allowed for statistical purposes. The assessee's challenge regarding the disallowance of Corporate Club Membership Fee for A.Y. 2009-10 was allowed. Additionally, the Tribunal upheld foreign exchange losses as business losses for A.Y. 2009-10 and 2010-11. The disallowance under Section 40(a)(ia) for A.Y. 2009-10 was deleted. The overall outcome favored the assessee on various grounds, with some adjustments made for statistical purposes. Case-Laws Income Tax Tue, 07 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328624