2019 (7) TMI 1158

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..... cting any inquiry of the fact whether there was any loss on account of the fluctuation in the foreign exchange and rate of the US Dollar within the relevant time, the AO simply disallowed the above amount. This is despite the return being scrutinized under Section 143(3) of the Act. The disallowance could not have been without a preceding inquiry into the claim made by the Assessee. In fact the .....

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..... Appellant Through: Ms. Vibhooti Malhotra, Advocate. Respondent Through: None. O R D E R C.M.No.32144/2019 (Exemption) 1. Allowed, subject to all just exceptions. ITA 666/2019 2. This appeal has been filed by the Revenue against the order dated 4th February, 2019 passed by the ITAT in ITA No. 6546/Del/2015 for Assessment Year 2011 .....

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..... . Without conducting any inquiry of the fact whether there was any loss on account of the fluctuation in the foreign exchange and rate of the US Dollar within the relevant time, the AO simply disallowed the above amount. This is despite the return being scrutinized under Section 143(3) of the Act. 5. The disallowance could not have been without a preceding inquiry into the claim made by .....

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