https://www.taxtmi.com/caselaws?id=369911 The Tribunal allowed the deduction for mark to market losses on derivative instruments, emphasizing their actual nature over notional, aligning with accounting standards and prior decisions. It upheld the deletion of interest disallowance related to exempt income, as the assessee's own funds exceeded investments, following the principle from a Bombay High Court decision. The Tribunal dismissed the Revenue's appeals on mark to market losses and upheld the CIT(A)'s decision, while partially allowing reconsideration of administrative expenses for statistical purposes. en-us Fri, 28 Sep 2018 00:00:00 +0530 Mon, 05 Nov 2018 13:30:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369911 The Tribunal allowed the deduction for mark to market losses on derivative instruments, emphasizing their actual nature over notional, aligning with accounting standards and prior decisions. It upheld the deletion of interest disallowance related to exempt income, as the assessee's own funds exceeded investments, following the principle from a Bombay High Court decision. The Tribunal dismissed the Revenue's appeals on mark to market losses and upheld the CIT(A)'s decision, while partially allowing reconsideration of administrative expenses for statistical purposes. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369911