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2016 (11) TMI 201 - AT - Income TaxDisallowance of the provision for liquidated damages - Held that:- Assessee is eligible for the deduction in respect of provision for liquidated damages as revenue expenditure allowable u/s 37(1) of the Act. Foreign exchange fluctuation loss - Held that:- The issue relating to foreign exchange fluctuation loss is decided in favour of the assessee and against the Revenue. See CIT Vs Woodward Governor [2010 (6) TMI 65 - BOMBAY HIGH COURT].
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