https://www.taxtmi.com/caselaws?id=409782 The ITAT dismissed the Revenue's appeals, upholding the CIT(A)'s decision to allow Forex losses as business losses. The Tribunal partly allowed the assessee's cross-objections for AY 2009-10 due to the absence of incriminating documents. For AY 2010-11, the cross-objections were dismissed as the assessment was abated, permitting the AO to pass the order under section 143(3) rws 153A. en-us Tue, 13 Jul 2021 00:00:00 +0530 Fri, 16 Jul 2021 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409782 The ITAT dismissed the Revenue's appeals, upholding the CIT(A)'s decision to allow Forex losses as business losses. The Tribunal partly allowed the assessee's cross-objections for AY 2009-10 due to the absence of incriminating documents. For AY 2010-11, the cross-objections were dismissed as the assessment was abated, permitting the AO to pass the order under section 143(3) rws 153A. Case-Laws Income Tax Tue, 13 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409782