https://www.taxtmi.com/caselaws?id=382430 The Tribunal dismissed the Revenue's appeals in ITA No. 1228/Ahd/2017 for A.Y. 2012-13 and ITA No. 2025/Ahd/2017 for A.Y. 2013-14, upholding the CIT(A)'s decisions. The disallowance of expenses in foreign currency and the reduction in net profit of eligible business made by the AO were both deleted. The Tribunal found no merit in the Revenue's arguments, affirming that the payments were not taxable in India and that the reduction in net profit was unjustified without evidence of any arrangement to inflate profits. en-us Mon, 01 Jul 2019 00:00:00 +0530 Tue, 02 Jul 2019 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382430 The Tribunal dismissed the Revenue's appeals in ITA No. 1228/Ahd/2017 for A.Y. 2012-13 and ITA No. 2025/Ahd/2017 for A.Y. 2013-14, upholding the CIT(A)'s decisions. The disallowance of expenses in foreign currency and the reduction in net profit of eligible business made by the AO were both deleted. The Tribunal found no merit in the Revenue's arguments, affirming that the payments were not taxable in India and that the reduction in net profit was unjustified without evidence of any arrangement to inflate profits. Case-Laws Income Tax Mon, 01 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382430