https://www.taxtmi.com/caselaws?id=461066 The Tribunal deleted the addition of Rs. 99,12,892/- as interest waived before accrual, siding with the assessee's argument that the waiver was a legitimate business decision due to financial distress, as supported by the precedent set in Bagoria Udyog Vs. CIT. The issues regarding the notional foreign currency exchange difference and the disallowance under Section 14A were dismissed since they were not pressed by the assessee's counsel during the hearing. The appeal was partly allowed, primarily in favor of the assessee concerning the interest waiver. en-us Wed, 03 Feb 2016 00:00:00 +0530 Mon, 10 Mar 2025 21:07:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461066 The Tribunal deleted the addition of Rs. 99,12,892/- as interest waived before accrual, siding with the assessee's argument that the waiver was a legitimate business decision due to financial distress, as supported by the precedent set in Bagoria Udyog Vs. CIT. The issues regarding the notional foreign currency exchange difference and the disallowance under Section 14A were dismissed since they were not pressed by the assessee's counsel during the hearing. The appeal was partly allowed, primarily in favor of the assessee concerning the interest waiver. Case-Laws Income Tax Wed, 03 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461066