https://www.taxtmi.com/caselaws?id=394123 The Tribunal partly allowed the appeals, directing the AO/TPO to recompute interest rates on foreign currency loans based on prevailing rates in the loan-receiving country. It ruled against reclassifying share application money as a loan and disallowed weighted deduction under Section 35(2AB) for fresh adjudication. The disallowance under Section 14A was restricted to exempt income earned. Additionally, the Tribunal deleted provisions for market-to-market losses and gratuity in the calculation of book profit under Section 115JB. The judgment provided detailed reasoning and directions based on judicial precedents and consistent Tribunal decisions. en-us Mon, 09 Mar 2020 00:00:00 +0530 Wed, 01 Apr 2020 15:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394123 The Tribunal partly allowed the appeals, directing the AO/TPO to recompute interest rates on foreign currency loans based on prevailing rates in the loan-receiving country. It ruled against reclassifying share application money as a loan and disallowed weighted deduction under Section 35(2AB) for fresh adjudication. The disallowance under Section 14A was restricted to exempt income earned. Additionally, the Tribunal deleted provisions for market-to-market losses and gratuity in the calculation of book profit under Section 115JB. The judgment provided detailed reasoning and directions based on judicial precedents and consistent Tribunal decisions. Case-Laws Income Tax Mon, 09 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394123