https://www.taxtmi.com/caselaws?id=173356 The Court ruled in favor of the Revenue regarding the allowability of the difference in foreign exchange rate as a revenue expenditure, citing it as capital expenditure. However, the Court ruled in favor of the assessee regarding the entitlement to extra shift allowance for the Calcutta factory, stating that the allowance should be based on the number of days the plant worked double or triple shifts. The Court also sided with the Revenue on the claim for weighted deduction under Section 35B, emphasizing that deductions are permissible only if expenses are wholly and exclusively incurred for specific purposes mentioned in the Act. en-us Thu, 06 Mar 2003 00:00:00 +0530 Mon, 14 Sep 2015 10:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173356 The Court ruled in favor of the Revenue regarding the allowability of the difference in foreign exchange rate as a revenue expenditure, citing it as capital expenditure. However, the Court ruled in favor of the assessee regarding the entitlement to extra shift allowance for the Calcutta factory, stating that the allowance should be based on the number of days the plant worked double or triple shifts. The Court also sided with the Revenue on the claim for weighted deduction under Section 35B, emphasizing that deductions are permissible only if expenses are wholly and exclusively incurred for specific purposes mentioned in the Act. Case-Laws Income Tax Thu, 06 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173356