Disallowance of foreign exchange fluctuation under the head ...

Foreign Exchange Loss on ECB Loan Deemed Revenue in Nature, Deductible u/s 37(1) of Income Tax Act.

January 4, 2021

Case Laws Income Tax AT

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 of exchange fluctuation loss on ECB loan availed for acquisition of indigenous assets revenue in nature deductible u/s.37(1) of the Act cannot be considered as capital in nature and added back to the cost of assets. - AT

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Disallowance of foreign exchange fluctuation under the head ...

Foreign Exchange Loss on ECB Loan Deemed Revenue in Nature, Deductible u/s 37(1) of Income Tax Act.

January 4, 2021

Case Laws Income Tax AT

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