https://www.taxtmi.com/caselaws?id=69707 The Appellate Tribunal upheld the AAC's decision to set aside assessment orders for Asst. years 1974-75 and 1975-76 regarding loss due to a change in exchange rate. The Tribunal found no legal flaw in the AAC's limited order and dismissed the revenue's appeals, affirming the AAC's directive for the ITO to gather detailed facts for a reasonable judgment on the claim under section 43A(I) of the Act. The Tribunal clarified that the AAC's action was specific to the exchange rate loss issue and did not require a complete reassessment. en-us Fri, 21 Jul 1978 00:00:00 +0530 Mon, 11 Apr 2011 16:41:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69707 The Appellate Tribunal upheld the AAC's decision to set aside assessment orders for Asst. years 1974-75 and 1975-76 regarding loss due to a change in exchange rate. The Tribunal found no legal flaw in the AAC's limited order and dismissed the revenue's appeals, affirming the AAC's directive for the ITO to gather detailed facts for a reasonable judgment on the claim under section 43A(I) of the Act. The Tribunal clarified that the AAC's action was specific to the exchange rate loss issue and did not require a complete reassessment. Case-Laws Income Tax Fri, 21 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69707