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2013 (10) TMI 878 - HC - Income TaxAllowance of the loss on re-valuation of foreign currency u/s 43(2) of the Income Tax Act – Held that:- Relying upon the decision of the case Padamjee Pulp & Paper Mills Ltd. V/s. CIT reported in [1993 (10) TMI 16 - BOMBAY High Court], it was decided against the Revenue. Deduction on account of enhancement of lease rental - section 37(1) - Held that:- the finding of fact recorded by the Tribunal is that the variation in the lease rental was made on account of increase in the lease deposit. This variation was held to be based on commercial consideration. Thus, the conclusion of the CIT(A) in that regard was upheld. - Decided against the revenue.
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