Claim of foreign exchange fluctuation loss - ECB was availed for ...

Foreign Exchange Fluctuation Loss Claim on ECB for Industrial Expansion Allowed Under Accounting Standards 11 and 16.

May 1, 2020

Case Laws Income Tax AT

Claim of foreign exchange fluctuation loss - ECB was availed for the purpose of expansion of three existing industrial units, hence, not on capital account and further taking note of Accounting Standard/11 r/w Accounting Standard/16, ultimately concluded that assessee’s claim of loss is allowable.

View Source

← Previous Next →

Claim of foreign exchange fluctuation loss - ECB was availed for ...

Foreign Exchange Fluctuation Loss Claim on ECB for Industrial Expansion Allowed Under Accounting Standards 11 and 16.

May 1, 2020

Case Laws Income Tax AT

You may also like:

Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

TP Adjustment - Reduction of economic adjustment on foreign exchange fluctuation loss - in principle, the foreign exchange fluctuation loss adjustment has to be given...

The assessee, a Foreign Portfolio Investor registered in India, entered into Forward Foreign Exchange Contracts (FCC) with HDFC Bank to safeguard against foreign...

Disallowance of foreign exchange fluctuation under the head finance cost - in absence of applicability of section 43A of the Act, loss claimed by the assessee on account...

TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from...

Loss on Forward Contracts in foreign exchange - such transactions were carried out in the normal course of business to guard against the fluctuation in foreign exchange...

Adjustment towards foreign exchange fluctuation - non-consideration of impact of abnormal movement in the foreign exchange rates while computing the operating profit...

Not allowing the claim for deduction of loss on account of foreign exchange fluctuation as on the last date of the previous year - addition on the ground that the loss...

Claim towards exchange fluctuation loss - for the purpose of depreciation, the cost of asset cannot be reduced or increased due to exchange rate fluctuation - allowed as...

Disallowing foreign exchange loss - claim of exchange fluctuation loss in revenue account by the Assessee in accordance with generally accepted accounting practices and...

Disallowance of foreign exchange fluctuation loss - mark to market loss - There is hardly any quarrel on such DRP’s directions are binding on an Assessing Officer u/s...

Disallowance on account of foreign exchange fluctuation loss - It is an undisputed fact that for the assessment year 2012-13, 2013-14 and 2016-17, the assessee declared...

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...

Disallowance being the amount of exchange fluctuation loss provided at the year end on business advance received in foreign exchange - the exchange fluctuation loss...

Denial of exchange loss - Unexpalined loss from the income - provisions of section 43A applicability - AS-11 is mandatory and required to be followed in computing the...

Quick Updates: