https://www.taxtmi.com/caselaws?id=218529 The Tribunal upheld the disallowance of foreign exchange loss on the conversion of a rupee term loan into a foreign currency loan, confirming it as capital in nature related to the purchase of capital assets. The liability to pay interest under section 234B of the Income Tax Act was also upheld, resulting in the dismissal of the assessee's appeal. en-us Tue, 31 Jul 2012 00:00:00 +0530 Mon, 19 Nov 2012 06:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218529 The Tribunal upheld the disallowance of foreign exchange loss on the conversion of a rupee term loan into a foreign currency loan, confirming it as capital in nature related to the purchase of capital assets. The liability to pay interest under section 234B of the Income Tax Act was also upheld, resulting in the dismissal of the assessee's appeal. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218529