https://www.taxtmi.com/caselaws?id=241539 The Court dismissed the appeal, ruling in favor of the assessee, allowing the benefit of exchange rate fluctuation under the unamended Section 43A for the assessment year in question. The Court held that adjustments to the actual cost of assets due to exchange rate fluctuations should be made on a cash basis at the time of payment, with the amendment being prospective from 1.4.2003. The appeal was dismissed, with the substantial legal question resolved against the revenue. en-us Fri, 26 Jul 2013 00:00:00 +0530 Tue, 04 Feb 2014 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241539 The Court dismissed the appeal, ruling in favor of the assessee, allowing the benefit of exchange rate fluctuation under the unamended Section 43A for the assessment year in question. The Court held that adjustments to the actual cost of assets due to exchange rate fluctuations should be made on a cash basis at the time of payment, with the amendment being prospective from 1.4.2003. The appeal was dismissed, with the substantial legal question resolved against the revenue. Case-Laws Income Tax Fri, 26 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241539