https://www.taxtmi.com/caselaws?id=298240 The Tribunal allowed the appeal, directing the deletion of disallowances of bad debts, R&D expenses, and foreign exchange losses. The Tribunal held that the advances written off should be allowed without requiring proof of irrecoverability. It also allowed R&D expenses for business purposes and considered foreign exchange losses as a business loss. The consequential levy of interest under sections 234B & 234C was upheld. The decision was pronounced on 21st August 2009. en-us Fri, 21 Aug 2009 00:00:00 +0530 Thu, 21 Oct 2021 17:20:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298240 The Tribunal allowed the appeal, directing the deletion of disallowances of bad debts, R&D expenses, and foreign exchange losses. The Tribunal held that the advances written off should be allowed without requiring proof of irrecoverability. It also allowed R&D expenses for business purposes and considered foreign exchange losses as a business loss. The consequential levy of interest under sections 234B & 234C was upheld. The decision was pronounced on 21st August 2009. Case-Laws Income Tax Fri, 21 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298240