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1985 (1) TMI 99 - AT - Income TaxExtract: .......into Indian rupees at the rate of exchange of Rs. 4.762 and the income earned thereafter at the rate of exchange of Rs. 7.5 per dollar. We hold that the ITO rightly converted the entire income from dollars into rupees at the prevailing rate of exchange as on the last day of the accounting period. 9. The department s appeal is, accordingly, allowed.
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