https://www.taxtmi.com/caselaws?id=65010 The Tribunal partially allowed the appeal, directing the AO to allow the depreciation claim, adjust the actual cost of assets for foreign exchange fluctuations on an accrual basis, delete the ad hoc disallowance of round bidding expenses, and re-examine the issues of gifts received and contributions made to various authorities. However, the disallowance of foreign exchange fluctuations on revenue expenses on an accrual basis was upheld. en-us Mon, 24 Aug 1998 00:00:00 +0530 Fri, 11 Feb 2011 16:23:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65010 The Tribunal partially allowed the appeal, directing the AO to allow the depreciation claim, adjust the actual cost of assets for foreign exchange fluctuations on an accrual basis, delete the ad hoc disallowance of round bidding expenses, and re-examine the issues of gifts received and contributions made to various authorities. However, the disallowance of foreign exchange fluctuations on revenue expenses on an accrual basis was upheld. Case-Laws Income Tax Mon, 24 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65010