https://www.taxtmi.com/caselaws?id=248389 Foreign exchange fluctuation loss on business-linked foreign currency loans advanced to sister concerns was treated as a deductible business loss because the borrowings were integrally connected with procurement of raw materials and arose in the course of business. Capital gains were required to be computed on the actual full value of consideration received or accruing on transfer, and market value could not be substituted merely because the shares were sold to related concerns. In the absence of evidence of higher actual consideration, the assessing authority could not replace the sale price with market value. The stated result was that both issues were decided in favour of the assessee. en-us Thu, 06 Mar 2014 00:00:00 +0530 Wed, 11 Jun 2014 11:36:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248389 Foreign exchange fluctuation loss on business-linked foreign currency loans advanced to sister concerns was treated as a deductible business loss because the borrowings were integrally connected with procurement of raw materials and arose in the course of business. Capital gains were required to be computed on the actual full value of consideration received or accruing on transfer, and market value could not be substituted merely because the shares were sold to related concerns. In the absence of evidence of higher actual consideration, the assessing authority could not replace the sale price with market value. The stated result was that both issues were decided in favour of the assessee. Case-Laws Income Tax Thu, 06 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248389