https://www.taxtmi.com/caselaws?id=245283 The High Court upheld the disallowance of interest and additional expenditure due to exchange fluctuation, applying Section 43A and rejecting the plea for restricted denial of deduction. However, the court ruled in favor of the assessee regarding the allowability of expenditure for the bonus issue. The appeal was allowed in part, with no costs. en-us Fri, 21 Mar 2014 00:00:00 +0530 Tue, 25 Mar 2014 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245283 The High Court upheld the disallowance of interest and additional expenditure due to exchange fluctuation, applying Section 43A and rejecting the plea for restricted denial of deduction. However, the court ruled in favor of the assessee regarding the allowability of expenditure for the bonus issue. The appeal was allowed in part, with no costs. Case-Laws Income Tax Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245283