Disallowance of foreign exchange loss on restatement of working ...

Income Tax

February 17, 2022

Disallowance of foreign exchange loss on restatement of working capital loans and gold loans - In this case, the assessee has taken foreign currency working capital for the purpose of business of the assessee and thus, profit or loss arisen on account of restatement of such loan is in nature of revenue expenditure which can be allowed as deduction. - AT

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Disallowance of foreign exchange loss on restatement of working ...

Income Tax

February 17, 2022

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