https://www.taxtmi.com/caselaws?id=392572 The Tribunal allowed the assessee's claim of Rs. 5,96,510/- representing marked to market loss on derivatives, recognizing it as a genuine loss under Section 37(1) of the Income Tax Act. The disallowance under Section 14A was partly allowed, with directions to the Assessing Officer to verify and compute the administrative expenditure disallowance. The appeals for the assessment year 2007-08 were partly allowed as per the earlier Tribunal order, with no requirement for fresh adjudication. en-us Fri, 21 Feb 2020 00:00:00 +0530 Mon, 18 May 2020 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392572 The Tribunal allowed the assessee's claim of Rs. 5,96,510/- representing marked to market loss on derivatives, recognizing it as a genuine loss under Section 37(1) of the Income Tax Act. The disallowance under Section 14A was partly allowed, with directions to the Assessing Officer to verify and compute the administrative expenditure disallowance. The appeals for the assessment year 2007-08 were partly allowed as per the earlier Tribunal order, with no requirement for fresh adjudication. Case-Laws Income Tax Fri, 21 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392572