https://www.taxtmi.com/caselaws?id=387431 The Tribunal dismissed the Revenue's appeals for AY 2009-10 and partially allowed the appeal for AY 2010-11, limiting the disallowance under Section 14A to the amount of exempt income. It upheld the CIT(A)'s decisions regarding the treatment of the license fee as revenue expenditure, exclusion of telecommunication charges and foreign currency expenditure from export turnover, and allowance of unrealized foreign exchange loss, affirming the CIT(A)'s application of relevant case law. en-us Wed, 16 Oct 2019 00:00:00 +0530 Fri, 08 Nov 2024 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387431 The Tribunal dismissed the Revenue's appeals for AY 2009-10 and partially allowed the appeal for AY 2010-11, limiting the disallowance under Section 14A to the amount of exempt income. It upheld the CIT(A)'s decisions regarding the treatment of the license fee as revenue expenditure, exclusion of telecommunication charges and foreign currency expenditure from export turnover, and allowance of unrealized foreign exchange loss, affirming the CIT(A)'s application of relevant case law. Case-Laws Income Tax Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387431