https://www.taxtmi.com/caselaws?id=212524 The court ruled in favor of the appellant-assessee, allowing the consideration of foreign exchange rate fluctuations for computing investment allowance under Section 32A. The Income Tax Appellate Tribunal (ITAT) decision was upheld, emphasizing the importance of adjustments to actual cost due to changes in exchange rates as per Section 43A. The court referenced previous Supreme Court judgments to support the appellant's claim and concluded that fluctuations in foreign exchange rates at the end of the financial year could be factored into the computation of investment allowance before the amendment to Section 43A in 2003. en-us Fri, 11 Nov 2011 00:00:00 +0530 Wed, 16 May 2012 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212524 The court ruled in favor of the appellant-assessee, allowing the consideration of foreign exchange rate fluctuations for computing investment allowance under Section 32A. The Income Tax Appellate Tribunal (ITAT) decision was upheld, emphasizing the importance of adjustments to actual cost due to changes in exchange rates as per Section 43A. The court referenced previous Supreme Court judgments to support the appellant's claim and concluded that fluctuations in foreign exchange rates at the end of the financial year could be factored into the computation of investment allowance before the amendment to Section 43A in 2003. Case-Laws Income Tax Fri, 11 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212524