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2022 (11) TMI 913 - DELHI HIGH COURTCIT-A Power u/s 250(4) - procedures envisaged by section 250(4) - Deduction u/s 80JJAA - fresh claims made by the assessee - remand of the relief allowed by the CIT( A) in exercise of powers under first part of section 250(4) - HELD THAT:- Admittedly, the issue of grant of deduction u/s 80JJAA has been decided in assessee’s favour in the preceding Assessment Year (‘AY’) 2007-08 by a Coordinate Bench of this Court in the case of Assessee itself being International Tractors Ltd. [2021 (4) TMI 1033 - DELHI HIGH COURT] held fresh claims made by the assessee, as allowed by the Commissioner of Income-tax (Appeals), will have to be sustained. Deduction of loss on exchange rate fluctuations - Deduction of loss on account of exchange rate fluctuation has not been dealt with in the aforesaid judgment, yet the logic/reasoning given in the said judgment applies as the Tribunal has not given any cogent reason for remanding the matter. Consequently, as the impugned order is non-reasoned, the same is set aside and the detailed order passed by CIT(A) on all issues including the issue of loss arising on account of exchange rate fluctuation is sustained.
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