https://www.taxtmi.com/caselaws?id=347981 The Court allowed the appeal on the provision for "Mark to Market" loss, directing the Tribunal to reconsider the claim. Parties were to argue on the provision's nature, whether contingent or crystallized, and its eligibility as a revenue deduction. The Tribunal was mandated to decide independently, disregarding prior orders. The Court dismissed the appeal concerning disallowance under section 14A due to the minimal tax effect falling below the circular's threshold, emphasizing the need to assess the overall impact. The interpretation of Rule 8D(3) was admitted as a substantial question of law, allowing parties to present arguments before the Tribunal. en-us Fri, 01 Sep 2017 00:00:00 +0530 Wed, 13 Sep 2017 21:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347981 The Court allowed the appeal on the provision for "Mark to Market" loss, directing the Tribunal to reconsider the claim. Parties were to argue on the provision's nature, whether contingent or crystallized, and its eligibility as a revenue deduction. The Tribunal was mandated to decide independently, disregarding prior orders. The Court dismissed the appeal concerning disallowance under section 14A due to the minimal tax effect falling below the circular's threshold, emphasizing the need to assess the overall impact. The interpretation of Rule 8D(3) was admitted as a substantial question of law, allowing parties to present arguments before the Tribunal. Case-Laws Income Tax Fri, 01 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347981