https://www.taxtmi.com/caselaws?id=434648 The Tribunal upheld the CIT(A)'s decision to delete the disallowances of swap contract and mark-to-market losses for AY 2015-16 and AY 2016-17. The Tribunal found that the losses were allowable based on consistent accounting practices and judicial precedents, distinguishing between realized and notional losses. The decisions were supported by previous rulings and lacked contrary judicial pronouncements, leading to the dismissal of the Revenue's appeals. en-us Wed, 30 Nov 2022 00:00:00 +0530 Tue, 28 Feb 2023 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434648 The Tribunal upheld the CIT(A)'s decision to delete the disallowances of swap contract and mark-to-market losses for AY 2015-16 and AY 2016-17. The Tribunal found that the losses were allowable based on consistent accounting practices and judicial precedents, distinguishing between realized and notional losses. The decisions were supported by previous rulings and lacked contrary judicial pronouncements, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Wed, 30 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434648