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Income Tax - Highlights / Catch Notes

Home Highlights February 2014 Year 2014 This

Disallowance of foreign exchange loss – The provisions of ...


Section 43A Inapplicable: Foreign Exchange Loss Not Disallowed Due to Lack of FCNR (B) Loan Acquisition.

February 26, 2014

Case Laws     Income Tax     AT

Disallowance of foreign exchange loss – The provisions of section 43A of the Act could not apply to the facts of the case as the provisions can be invoked only when assets are acquired by raising the FCNR (B) loan - AT

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