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2006 (8) TMI 435 - AT - Income TaxExtract: .......g the same, hold that the foreign exchange fluctuation loss arising directly on account of the raw material imported has to be considered as part of the value of closing stock for the purpose of its valuation. With this view, we dismiss the effective ground urged in the appeal by the assessee. 6. In the result, assessee rsquo s appeal is dismissed.
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