https://www.taxtmi.com/caselaws?id=286668 The Appellate Tribunal ITAT Mumbai upheld the CIT(A)'s decision regarding the disallowance of charges under section 40(a)(ia) and the addition of mark to market losses in derivative transactions for A.Y. 2007-08. The Tribunal found that the charges were not 'fees for technical services' and accepted the assessee's claim of loss as expenditure under section 37(1). The Revenue's appeal was dismissed as it failed to provide contrary evidence, with grounds 3 and 4 considered general and not independently assessed. en-us Mon, 30 Sep 2013 00:00:00 +0530 Mon, 09 Mar 2020 10:54:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286668 The Appellate Tribunal ITAT Mumbai upheld the CIT(A)'s decision regarding the disallowance of charges under section 40(a)(ia) and the addition of mark to market losses in derivative transactions for A.Y. 2007-08. The Tribunal found that the charges were not 'fees for technical services' and accepted the assessee's claim of loss as expenditure under section 37(1). The Revenue's appeal was dismissed as it failed to provide contrary evidence, with grounds 3 and 4 considered general and not independently assessed. Case-Laws Income Tax Mon, 30 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286668