https://www.taxtmi.com/caselaws?id=783128 ITAT Bangalore allowed the assessee's appeal in part. It held that reimbursement received from an associated enterprise towards foreign exchange fluctuation loss on repayment of external commercial borrowing, being a monetary receipt, is not taxable as business income under s. 28(iv), and directed deletion of the addition. On the disallowance under s. 40(a)(iii) relating to payments made to a foreign entity under a secondment arrangement, ITAT set aside the issue to the AO for fresh adjudication after examining the agreement, invoices and employee relationships. On the disallowance under s. 37 concerning a reversed provision earlier disallowed, ITAT accepted the assessee's claim and deleted the addition. en-us Fri, 05 Dec 2025 00:00:00 +0530 Wed, 10 Dec 2025 08:41:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783128 ITAT Bangalore allowed the assessee's appeal in part. It held that reimbursement received from an associated enterprise towards foreign exchange fluctuation loss on repayment of external commercial borrowing, being a monetary receipt, is not taxable as business income under s. 28(iv), and directed deletion of the addition. On the disallowance under s. 40(a)(iii) relating to payments made to a foreign entity under a secondment arrangement, ITAT set aside the issue to the AO for fresh adjudication after examining the agreement, invoices and employee relationships. On the disallowance under s. 37 concerning a reversed provision earlier disallowed, ITAT accepted the assessee's claim and deleted the addition. Case-Laws Income Tax Fri, 05 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783128