https://www.taxtmi.com/caselaws?id=185460 The appeal against the CIT(A) order regarding loss on valuation of unmatured forward exchange contracts and allowance of interest u/s 244A was decided in favor of the assessee. The Tribunal upheld the allowance of loss on valuation of unmatured forward exchange contracts based on legal precedents. It also affirmed the allowance of interest u/s 244A in favor of the assessee, citing relevant decisions. The assessee's cross objection was allowed for statistical purposes, with certain grounds dismissed as infructuous. The Tribunal directed the Assessing Officer to verify the tax credit claim and reconsider the interest u/s 244A issue in accordance with legal precedents. en-us Fri, 28 Jan 2011 00:00:00 +0530 Sat, 13 Aug 2016 11:10:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185460 The appeal against the CIT(A) order regarding loss on valuation of unmatured forward exchange contracts and allowance of interest u/s 244A was decided in favor of the assessee. The Tribunal upheld the allowance of loss on valuation of unmatured forward exchange contracts based on legal precedents. It also affirmed the allowance of interest u/s 244A in favor of the assessee, citing relevant decisions. The assessee's cross objection was allowed for statistical purposes, with certain grounds dismissed as infructuous. The Tribunal directed the Assessing Officer to verify the tax credit claim and reconsider the interest u/s 244A issue in accordance with legal precedents. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185460