https://www.taxtmi.com/caselaws?id=151882 The Third Member, aligning with the Accountant Member, concluded that the assessee should be entitled to depreciation on the enhanced liability due to exchange rate fluctuations, even if not actually paid during the year. This conclusion was based on the interpretation of section 43A of the Income-tax Act as it existed during the relevant year, which did not mandate actual payment but recognized liability based on the method of accounting employed by the assessee. The Tribunal's final decision, based on the majority opinion, favored the assessee, thereby dismissing the Department's appeal. en-us Tue, 31 Dec 2002 00:00:00 +0530 Tue, 18 Jun 2013 17:43:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151882 The Third Member, aligning with the Accountant Member, concluded that the assessee should be entitled to depreciation on the enhanced liability due to exchange rate fluctuations, even if not actually paid during the year. This conclusion was based on the interpretation of section 43A of the Income-tax Act as it existed during the relevant year, which did not mandate actual payment but recognized liability based on the method of accounting employed by the assessee. The Tribunal's final decision, based on the majority opinion, favored the assessee, thereby dismissing the Department's appeal. Case-Laws Income Tax Tue, 31 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151882