https://www.taxtmi.com/caselaws?id=367944 The Tribunal upheld the CIT(A)'s decision to dismiss the Revenue's appeal on three issues: disallowance of Mark to Market loss claimed by the assessee, disallowance without actual sale or settlement, and disallowance under section 14A r/w Rule 8D. The CIT(A) found the transactions legitimate, electronic, and conducted through recognized brokers. The losses were deemed business losses, not notional. The CIT(A) also noted the absence of borrowed money for investments in the disallowance under section 14A r/w Rule 8D. The Tribunal affirmed the dismissal of the Revenue's appeal on all three issues. en-us Thu, 20 Sep 2018 00:00:00 +0530 Fri, 28 Sep 2018 09:13:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367944 The Tribunal upheld the CIT(A)'s decision to dismiss the Revenue's appeal on three issues: disallowance of Mark to Market loss claimed by the assessee, disallowance without actual sale or settlement, and disallowance under section 14A r/w Rule 8D. The CIT(A) found the transactions legitimate, electronic, and conducted through recognized brokers. The losses were deemed business losses, not notional. The CIT(A) also noted the absence of borrowed money for investments in the disallowance under section 14A r/w Rule 8D. The Tribunal affirmed the dismissal of the Revenue's appeal on all three issues. Case-Laws Income Tax Thu, 20 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367944