https://www.taxtmi.com/caselaws?id=304630 The Court partially allowed the Income Tax Appeal, ruling in favor of the assessee on the disallowance of preoperative expenditure, loan processing fee, unrealized foreign exchange fluctuation gain, MTM loss on forward contract, and the difference in conversion rate of foreign currency. However, the Court sided with the Revenue on the weighted deduction for R&D expenses, the loss on the sale of investment in shares, and the treatment of prepaid expenses. The issue of the loss on the sale of investment in shares was remanded back to the Tribunal for further consideration. en-us Wed, 22 Sep 2021 00:00:00 +0530 Tue, 11 Oct 2022 10:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304630 The Court partially allowed the Income Tax Appeal, ruling in favor of the assessee on the disallowance of preoperative expenditure, loan processing fee, unrealized foreign exchange fluctuation gain, MTM loss on forward contract, and the difference in conversion rate of foreign currency. However, the Court sided with the Revenue on the weighted deduction for R&D expenses, the loss on the sale of investment in shares, and the treatment of prepaid expenses. The issue of the loss on the sale of investment in shares was remanded back to the Tribunal for further consideration. Case-Laws Income Tax Wed, 22 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304630