https://www.taxtmi.com/caselaws?id=214381 The Tribunal decided in favor of the assessee on the issue of Depreciation on Loss Due to Fluctuation of Foreign Exchange and Capitalization under Section 43A, citing relevant legal precedents. However, the Tribunal remanded the issue of Loss on Fluctuation of Foreign Currency in Respect of Development Cost under Section 42 for fresh adjudication. The Tribunal ruled against the assessee on the Treatment of Interest Income for Deduction under Section 80IB(9) but upheld the eligibility of deduction under Section 80IB on Extraction of Oil from Oil Field. Additionally, the Tribunal agreed with the assessee on the Treatment of Provision for Site Restoration Expenses as Ascertained Liability. Overall, the appeals of the assessee were partly allowed, and the appeal of the revenue was dismissed. en-us Wed, 11 Apr 2012 00:00:00 +0530 Thu, 28 Jun 2012 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214381 The Tribunal decided in favor of the assessee on the issue of Depreciation on Loss Due to Fluctuation of Foreign Exchange and Capitalization under Section 43A, citing relevant legal precedents. However, the Tribunal remanded the issue of Loss on Fluctuation of Foreign Currency in Respect of Development Cost under Section 42 for fresh adjudication. The Tribunal ruled against the assessee on the Treatment of Interest Income for Deduction under Section 80IB(9) but upheld the eligibility of deduction under Section 80IB on Extraction of Oil from Oil Field. Additionally, the Tribunal agreed with the assessee on the Treatment of Provision for Site Restoration Expenses as Ascertained Liability. Overall, the appeals of the assessee were partly allowed, and the appeal of the revenue was dismissed. Case-Laws Income Tax Wed, 11 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214381