https://www.taxtmi.com/caselaws?id=307738 The Tribunal upheld the CIT(A)'s decision regarding the allowability of 'Mark to Market' loss on revaluation of creditors and addition made on revaluation of closing stock due to foreign exchange fluctuation. The Tribunal dismissed the Revenue's appeal on these grounds. However, the Tribunal remanded the issue of addition on account of sale of wastage and scrap value back to the AO for further examination. The appeal was partly allowed for statistical purposes, with the order pronounced on 29.06.2016. en-us Wed, 29 Jun 2016 00:00:00 +0530 Wed, 03 May 2023 21:15:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307738 The Tribunal upheld the CIT(A)'s decision regarding the allowability of 'Mark to Market' loss on revaluation of creditors and addition made on revaluation of closing stock due to foreign exchange fluctuation. The Tribunal dismissed the Revenue's appeal on these grounds. However, the Tribunal remanded the issue of addition on account of sale of wastage and scrap value back to the AO for further examination. The appeal was partly allowed for statistical purposes, with the order pronounced on 29.06.2016. Case-Laws Income Tax Wed, 29 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307738