Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (5) TMI 633 - HC - Income TaxDeduction u/s 10B - allowability of loss due to exchange fluctuation - tribunal relied on decision which was reversed by supreme court - contingent and notional - allowability of claim of the appellant before CIT(A) when no such claim was made before the AO - HELD THAT:- Matter deserves to be restored back to the learned Tribunal for considering the entire appeal filed by the Revenue de novo, in view of the subsequent development of law by the aforesaid judgment of the Hon'ble Supreme Court in the case of Oil & Natural Gas Corporation Limited, [2010 (3) TMI 81 - SUPREME COURT] , and also other case laws, which the Assessee may rely upon, for the purpose of 'Deduction' u/s 10B.
|