https://www.taxtmi.com/caselaws?id=406786 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. The Tribunal held that unrealized hedging loss on forward contracts was allowable under section 37(1) following Supreme Court precedent. The expenditure on ESOPs was also held deductible under section 37(1) based on a decision by the Karnataka High Court. The Tribunal remanded issues concerning TDS, education cess, and DDT rates for further examination by the Assessing Officer. en-us Fri, 16 Apr 2021 00:00:00 +0530 Fri, 23 Apr 2021 21:03:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406786 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. The Tribunal held that unrealized hedging loss on forward contracts was allowable under section 37(1) following Supreme Court precedent. The expenditure on ESOPs was also held deductible under section 37(1) based on a decision by the Karnataka High Court. The Tribunal remanded issues concerning TDS, education cess, and DDT rates for further examination by the Assessing Officer. Case-Laws Income Tax Fri, 16 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406786