https://www.taxtmi.com/caselaws?id=120539 The Revenue appealed against the deletion of an addition of Rs. 7,06,173 on account of foreign exchange fluctuation by the CIT (Appeals). The Assessing Officer had treated the amount as notional loss, but the CIT (Appeals) found it to be a net gain. Relying on precedent, the Tribunal upheld the CIT (Appeals)' decision, stating that the loss was actual and not notional. The appeal by the Revenue was dismissed, affirming the deletion of the addition. en-us Fri, 25 Apr 2008 00:00:00 +0530 Sat, 21 Jul 2012 10:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120539 The Revenue appealed against the deletion of an addition of Rs. 7,06,173 on account of foreign exchange fluctuation by the CIT (Appeals). The Assessing Officer had treated the amount as notional loss, but the CIT (Appeals) found it to be a net gain. Relying on precedent, the Tribunal upheld the CIT (Appeals)' decision, stating that the loss was actual and not notional. The appeal by the Revenue was dismissed, affirming the deletion of the addition. Case-Laws Income Tax Fri, 25 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120539