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2011 (7) TMI 1391 - HC - Income TaxExtract: .......d that the assessee has been following cash system of accounting and therefore gain on account of exchange rate can be brought to tax only when the amounts lying in the EEFC account were utilized by the assessee. No fault can be found in the reasoning of the ITAT. Thus, the second question cannot be entertained. 4. Accordingly, appeal is dismissed.
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