https://www.taxtmi.com/caselaws?id=290442 The tribunal allowed the assessee's appeals in part for assessment years 2005-06, 2007-08, and 2008-09, affirming the deduction under section 10B before setting off unabsorbed depreciation and remitting the issue of foreign exchange gains for fresh consideration. It upheld the CIT(A)'s decisions on interest levy under section 234B, disallowance under section 14A, and treatment of foreign currency expenditure under section 10B. The tribunal dismissed the Revenue's appeals for assessment years 2007-08 and 2008-09, confirming the treatment of Mark-to-Market losses as business losses. The decision was rendered in Chennai on February 13, 2018. en-us Tue, 13 Feb 2018 00:00:00 +0530 Thu, 14 Nov 2024 11:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290442 The tribunal allowed the assessee's appeals in part for assessment years 2005-06, 2007-08, and 2008-09, affirming the deduction under section 10B before setting off unabsorbed depreciation and remitting the issue of foreign exchange gains for fresh consideration. It upheld the CIT(A)'s decisions on interest levy under section 234B, disallowance under section 14A, and treatment of foreign currency expenditure under section 10B. The tribunal dismissed the Revenue's appeals for assessment years 2007-08 and 2008-09, confirming the treatment of Mark-to-Market losses as business losses. The decision was rendered in Chennai on February 13, 2018. Case-Laws Income Tax Tue, 13 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290442