https://www.taxtmi.com/caselaws?id=290441 The Tribunal upheld the CIT(A)'s decisions in dismissing the Revenue's appeal on both the disallowance under Section 14A of the Income Tax Act and the treatment of foreign exchange fluctuation loss. It emphasized the requirement of actual receipt of exempt income for disallowance under Section 14A and deemed foreign exchange losses related to business transactions as non-speculative. en-us Fri, 26 May 2017 00:00:00 +0530 Sat, 26 Sep 2020 11:40:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290441 The Tribunal upheld the CIT(A)'s decisions in dismissing the Revenue's appeal on both the disallowance under Section 14A of the Income Tax Act and the treatment of foreign exchange fluctuation loss. It emphasized the requirement of actual receipt of exempt income for disallowance under Section 14A and deemed foreign exchange losses related to business transactions as non-speculative. Case-Laws Income Tax Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290441