| |
| The Tax Publishers2020 TaxPub(DT) 5132 (Ahd-HC) INCOME TAX ACT, 1961
Section 37(1)
Notional loss on account of foreign exchange fluctuation loss claimed on account of Mark to Market basis is allowable following the Tax Appeal No. 1000 of 2017
|
Business expenditure - Allowabilty - Disallowance of notional loss -
Revenue filed appeal against the order of Tribunal deleting the dis-allowance of notional loss on account of foreign exchange fluctuation loss claimed on account of Mark to Market basis. Held: In the case of very assessee in Tax Appeal No. 1000 of 2017, the issue was decided in favour of the assessee and against the revenue. Following the same, the issue was decided accordingly in favour of assessee.
Followed:Tax Appeal No. 1000 of 2017.
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2009-10
INCOME TAX ACT 1961
Section 37(1)
 SUBSCRIBE FOR FULL CONTENT
|