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Income Tax - Highlights / Catch Notes

Home Highlights December 2020 Year 2020 This

Disallowance of Forex loss pertaining to reinstatement of ...

Income Tax

December 15, 2020

Disallowance of Forex loss pertaining to reinstatement of outstanding balance of External Commercial Borrowing (ECB) loan - the necessary adjustments should be made to the actual cost of assets on account of loss consequent to foreign currency fluctuation rate as there is no dispute that ECB loans are utilized for the purpose of acquisition of asset in India. - AT

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