https://www.taxtmi.com/caselaws?id=448950 ITAT Mumbai ruled on multiple issues for a financial services company. The tribunal allowed mark-to-market losses on foreign exchange contracts following precedent, deleted section 14A disallowance as assessee had sufficient own funds, and remanded bad debt write-offs and business losses on repossessed assets for fresh examination. The tribunal directed proportionate allowance of bond issue expenses, permitted section 88E rebate, held MAT provisions inapplicable, and partially allowed transfer pricing adjustments by deleting markup on pass-through costs while requiring comparable company reselection. Appeals were partly allowed for both parties. en-us Thu, 09 Nov 2023 00:00:00 +0530 Thu, 15 May 2025 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448950 ITAT Mumbai ruled on multiple issues for a financial services company. The tribunal allowed mark-to-market losses on foreign exchange contracts following precedent, deleted section 14A disallowance as assessee had sufficient own funds, and remanded bad debt write-offs and business losses on repossessed assets for fresh examination. The tribunal directed proportionate allowance of bond issue expenses, permitted section 88E rebate, held MAT provisions inapplicable, and partially allowed transfer pricing adjustments by deleting markup on pass-through costs while requiring comparable company reselection. Appeals were partly allowed for both parties. Case-Laws Income Tax Thu, 09 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448950