https://www.taxtmi.com/caselaws?id=779720 ITAT Delhi (AT) allowed most appeals of the assessees. It upheld deletion of the disallowance of a notional foreign-exchange loss, finding the liability restatement properly made and following SC precedent; upheld deletion of interest disallowance on residential property as capital asset treatment was shown; partly sustained an addition for directors' foreign travel by imposing an extra Rs.2,00,000 (over prior disallowance), refusing a broader ad-hoc cut; and deleted additions under s.14A r.w. Rule 8D, holding the AO must prove lack of nexus and the assessee's disclosure duty sufficed. en-us Wed, 22 Jan 2025 00:00:00 +0530 Sat, 11 Oct 2025 09:01:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779720 ITAT Delhi (AT) allowed most appeals of the assessees. It upheld deletion of the disallowance of a notional foreign-exchange loss, finding the liability restatement properly made and following SC precedent; upheld deletion of interest disallowance on residential property as capital asset treatment was shown; partly sustained an addition for directors' foreign travel by imposing an extra Rs.2,00,000 (over prior disallowance), refusing a broader ad-hoc cut; and deleted additions under s.14A r.w. Rule 8D, holding the AO must prove lack of nexus and the assessee's disclosure duty sufficed. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779720