Home Highlights May 2016 Year 2016 This

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1. Claim of deduction of credit balance appearing under the head “Settlement Bargain” u/s 80IB - fluctuation of rate of exchange - amount is eligible for deduction u/s 80IB - AT

2. Claim towards exchange fluctuation loss - for the purpose of depreciation, the cost of asset cannot be reduced or increased due to exchange rate fluctuation - allowed as...

3. Deduction u/s 80HHE - there is no occasion to exclude 90% of the amount attributable to export gains from the foreign exchange rate fluctuation - HC

4. Market to market loss - loss on account of Exchange rate fluctuation - of outstanding debtors and creditors for sale and purchase of foreign currency - speculative...

5. Deduction u/s 80IB - amount declared during the course of survey as additional income - assessee is not entitled to the deduction under section 80IB of the Act on the...

6. Entitlement to the deduction under Section 80IB - surrendered amount - appellant was not entitled to the deduction under Section 80IB on the surrendered amount though...

7. Deduction on various subsidies u/s 80IB - assessee is also entitled for relief on alternate contention and would be entitled to set off of the expenses under the grant...

8. Whether the loss/gain arising on fluctuation of exchange is allowable as deduction/additions in the year of fluctuation of exchange rate or whether the same could be...

9. Additional Depreciation on increased cost - Adjustments u/s 43A - exchange rate fluctuation - the increase or decrease in liability should be taken into account to...

10. Adjustment towards foreign exchange fluctuation - non-consideration of impact of abnormal movement in the foreign exchange rates while computing the operating profit...