https://www.taxtmi.com/caselaws?id=279504 The court ruled in favor of the assessee against the revenue on all issues. The deletion of Mark to Market Loss in derivative transactions and disallowance under Section 14A of the Income Tax Act were upheld based on precedents and interpretations of the law. The premature penalty proceedings under Section 271(1)(c) were not adjudicated upon. The ITAT dismissed the revenue's appeal, affirming the decisions of the CIT(A) and upholding the orders in favor of the assessee. en-us Thu, 09 Nov 2017 00:00:00 +0530 Fri, 22 Mar 2019 06:07:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279504 The court ruled in favor of the assessee against the revenue on all issues. The deletion of Mark to Market Loss in derivative transactions and disallowance under Section 14A of the Income Tax Act were upheld based on precedents and interpretations of the law. The premature penalty proceedings under Section 271(1)(c) were not adjudicated upon. The ITAT dismissed the revenue's appeal, affirming the decisions of the CIT(A) and upholding the orders in favor of the assessee. Case-Laws Income Tax Thu, 09 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279504