https://www.taxtmi.com/caselaws?id=210078 The appeal filed by the Assessee was dismissed, and the disallowance of the deduction under section 10A on the foreign exchange fluctuation gain was upheld. The Tribunal found that the foreign exchange gain was not derived from the Assessee's export activities but from external commercial borrowings, which did not meet the criteria for deduction under section 10A. The Tribunal upheld the order of the Commissioner of Income Tax (Appeals) and dismissed the Assessee's appeal. en-us Fri, 27 May 2011 00:00:00 +0530 Fri, 30 Nov 2012 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210078 The appeal filed by the Assessee was dismissed, and the disallowance of the deduction under section 10A on the foreign exchange fluctuation gain was upheld. The Tribunal found that the foreign exchange gain was not derived from the Assessee's export activities but from external commercial borrowings, which did not meet the criteria for deduction under section 10A. The Tribunal upheld the order of the Commissioner of Income Tax (Appeals) and dismissed the Assessee's appeal. Case-Laws Income Tax Fri, 27 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210078