2020 (1) TMI 465 - SCH - Income Tax

Allowability of Foreign exchange fluctuation loss u/s 37 - difference between amount given by it as loan to its subsidiary in the USA and the amount realized due to fluctuation is claimed as exchange loss - non conducting any enquiry - HELD THAT - SLP dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition, condoned the delay, and left the question of law open. The pending application was disposed of.