https://www.taxtmi.com/caselaws?id=464520 ITAT MUMBAI - AT dismissed the revenue appeal. The Tribunal held that no disallowance under s.14A/read with r.8D was permissible where no exempt/dividend income was received or includible in total income. The Tribunal upheld deletion of an addition for alleged shortfall in corporate guarantee commission, finding the charged 0.75% reasonable in the circumstances. It also sustained deletion of foreign-exchange loss additions, holding forward contracts were bona fide business hedging (not speculative) and resultant losses were allowable under s.37/proviso to s.43(5). en-us Mon, 30 Sep 2019 00:00:00 +0530 Mon, 03 Nov 2025 19:39:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464520 ITAT MUMBAI - AT dismissed the revenue appeal. The Tribunal held that no disallowance under s.14A/read with r.8D was permissible where no exempt/dividend income was received or includible in total income. The Tribunal upheld deletion of an addition for alleged shortfall in corporate guarantee commission, finding the charged 0.75% reasonable in the circumstances. It also sustained deletion of foreign-exchange loss additions, holding forward contracts were bona fide business hedging (not speculative) and resultant losses were allowable under s.37/proviso to s.43(5). Case-Laws Income Tax Mon, 30 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464520