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2010 (12) TMI 189 - PUNJAB AND HARYANA HIGH COURTDepreciation - depreciation of Rs. 585.75 lakhs claimed by the assessee on capitalization of the effect of the fluctuation in the rate of foreign exchange on the outstanding liability - though no amount was actually paid during the year - Held that: increase or decrease in liability in the repayment of foreign loan should be taken into account to modify the figure of actual cost in the year in which the increase or decrease in liability arises on account of fluctuation in the rate of exchange - This has to be done irrespective of the date of actual payment in foreign currency - As per the hon'ble Supreme Court in CIT v. Woodward Governor India P. Ltd.[2009 -TMI - 32906 - SUPREME COURT] - Decided in favor of assesse.
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