https://www.taxtmi.com/caselaws?id=754380 HC dismissed revenue's appeals. It upheld the Tribunal/CIT(A) finding that foreign exchange loss on assignment of a loan by a foreign parent to the assessee (an NBFC) was not taxable as revenue expenditure and the Tribunal's reliance on earlier precedents was proper, so the issue failed against revenue. Allowance of insurance and audit fees was sustained as factually supported. The Tribunal correctly declined to apply the Finance Act, 2022 amendment to section 14A retrospectively. Claims for upward adjustment under section 115JB were treated as factual; revenue's challenge did not succeed. en-us Wed, 19 Jun 2024 00:00:00 +0530 Sat, 20 Sep 2025 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754380 HC dismissed revenue's appeals. It upheld the Tribunal/CIT(A) finding that foreign exchange loss on assignment of a loan by a foreign parent to the assessee (an NBFC) was not taxable as revenue expenditure and the Tribunal's reliance on earlier precedents was proper, so the issue failed against revenue. Allowance of insurance and audit fees was sustained as factually supported. The Tribunal correctly declined to apply the Finance Act, 2022 amendment to section 14A retrospectively. Claims for upward adjustment under section 115JB were treated as factual; revenue's challenge did not succeed. Case-Laws Income Tax Wed, 19 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754380