https://www.taxtmi.com/highlights?id=77934 The ITAT Ahmedabad ruled on various tax issues. It upheld that Foreign Exchange Fluctuation Gain is capital in nature. Deduction u/s 10B was denied as sales consideration wasn't received timely. MAT computation didn't require adding back provision for bad debts. Leave encashment deduction was disallowed u/s 43B. Disallowance u/s 14A r.w.r. 8D was confirmed based on partnership firm investments. TP Adjustment for Corporate Guarantee was upheld. Weighted deduction u/s 35(2AB) was allowed as DSIR certification wasn't mandatory for in-house R&D expenses. The assessee succeeded in its appeal. en-us Wed, 29 May 2024 15:55:08 +0530 Wed, 29 May 2024 15:55:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77934 The ITAT Ahmedabad ruled on various tax issues. It upheld that Foreign Exchange Fluctuation Gain is capital in nature. Deduction u/s 10B was denied as sales consideration wasn't received timely. MAT computation didn't require adding back provision for bad debts. Leave encashment deduction was disallowed u/s 43B. Disallowance u/s 14A r.w.r. 8D was confirmed based on partnership firm investments. TP Adjustment for Corporate Guarantee was upheld. Weighted deduction u/s 35(2AB) was allowed as DSIR certification wasn't mandatory for in-house R&D expenses. The assessee succeeded in its appeal. Highlights Income Tax Wed, 29 May 2024 15:55:08 +0530 https://www.taxtmi.com/highlights?id=77934