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2021 (10) TMI 821 - AT - Income TaxDisallowance of depreciation relatable exchange fluctuations - assets acquired in India from the funds raised through foreign currency convertible bonds following its own order of earlier assessment years - HELD THAT:- As decided in own case [2021 (6) TMI 609 - ITAT DELHI] although assessee has a good case to argue that exchange fluctuation loss attributable to depreciable assets acquired in India is an allowable revenue expenditure, however, it would require tedious exercise of modifying assessments for number of year. Therefore, we hold that the assessee is entitled to depreciation on exchange loss. - Decided in favour of assessee.
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