Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 244 - AT - Income TaxDisallowing the notional loss on account of foreign exchange fluctuation claimed - Held that:- This issue was no longer res judicata and the Hon'ble Delhi High Court had held in the case of M/s Woodward Governor India (P) Ltd (2007 (4) TMI 118 - DELHI HIGH COURT) that increase in liability due to foreign exchange fluctuation as per the exchange rate prevailing on the last date of financial year was allowable as a deduction and was not notional and contingent. - Decided against revenue
|