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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Allowability of difference of conversion of FCNR loan into rupee ...

Case Laws     Income Tax

August 13, 2019

Allowability of difference of conversion of FCNR loan into rupee loan - the original term loan availed by assessee has not changed and remain same and there is no impact on the value of fixed assets since it is acquired in Indian currency - the assessee has absorbed the exchange difference, it definitely falls falls within the ambit of section 37 - deduction allowable

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