https://www.taxtmi.com/caselaws?id=425699 The Tribunal allowed the assessee's appeal partially, directing the AO to allow the foreign exchange loss, marketing expenses, regularization charges, and write-off of non-refundable security deposit. The Tribunal also instructed the AO to adjust the income for the provision reversal for Transferable Development Rights to avoid double taxation. However, the Tribunal dismissed the deduction claim for education cess. The CIT(A)'s decision to allow deduction for interest expenses under Section 36(1)(iii) and limit disallowed expenses under Section 14A read with Rule 8D was upheld. The revenue's appeal was dismissed, affirming the CIT(A)'s decisions. en-us Thu, 12 May 2022 00:00:00 +0530 Thu, 28 Jul 2022 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425699 The Tribunal allowed the assessee's appeal partially, directing the AO to allow the foreign exchange loss, marketing expenses, regularization charges, and write-off of non-refundable security deposit. The Tribunal also instructed the AO to adjust the income for the provision reversal for Transferable Development Rights to avoid double taxation. However, the Tribunal dismissed the deduction claim for education cess. The CIT(A)'s decision to allow deduction for interest expenses under Section 36(1)(iii) and limit disallowed expenses under Section 14A read with Rule 8D was upheld. The revenue's appeal was dismissed, affirming the CIT(A)'s decisions. Case-Laws Income Tax Thu, 12 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425699