https://www.taxtmi.com/caselaws?id=405947 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all issues. The Tribunal found that disallowance under Section 14A cannot be made when no exempt income is earned, contributions to PF and ESI made before the due date for filing returns are allowable, losses on forward contracts for hedging are not speculative, and disallowance of stitching charges without doubting genuineness is unjustified. The Tribunal supported its decision with legal precedents and evidence, rejecting the Revenue's grounds. en-us Wed, 31 Mar 2021 00:00:00 +0530 Fri, 02 Apr 2021 09:14:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405947 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all issues. The Tribunal found that disallowance under Section 14A cannot be made when no exempt income is earned, contributions to PF and ESI made before the due date for filing returns are allowable, losses on forward contracts for hedging are not speculative, and disallowance of stitching charges without doubting genuineness is unjustified. The Tribunal supported its decision with legal precedents and evidence, rejecting the Revenue's grounds. Case-Laws Income Tax Wed, 31 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405947