https://www.taxtmi.com/caselaws?id=290677 The Tribunal partly allowed the assessee's appeal regarding the disallowance of premium paid on forward contracts for exchange fluctuations on loan repayment, allowing depreciation on the enhanced project cost. In the case of disallowance of expenditure for earning exempt income under Section 14A, the Tribunal upheld the CIT(Appeals)' decision, noting investments in wholly owned subsidiaries were for business purposes, not exempt income. The Tribunal dismissed the Revenue's appeal, confirming the lower authorities' decisions. en-us Fri, 16 Jun 2017 00:00:00 +0530 Sat, 10 Oct 2020 10:33:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290677 The Tribunal partly allowed the assessee's appeal regarding the disallowance of premium paid on forward contracts for exchange fluctuations on loan repayment, allowing depreciation on the enhanced project cost. In the case of disallowance of expenditure for earning exempt income under Section 14A, the Tribunal upheld the CIT(Appeals)' decision, noting investments in wholly owned subsidiaries were for business purposes, not exempt income. The Tribunal dismissed the Revenue's appeal, confirming the lower authorities' decisions. Case-Laws Income Tax Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290677