https://www.taxtmi.com/caselaws?id=340887 The High Court dismissed the appeal challenging the Tribunal's decision on the deduction claim for expenses on Foreign Currency Convertible Bonds (FCCBs). The Court upheld the allowance of the claim as revenue expenditure, following precedents and determining the FCCB expenditure as revenue in nature. The Court found no reason to deviate from the consistent legal position on the issue, ruling in favor of the Respondent and affirming the Tribunal's decision. en-us Thu, 16 Mar 2017 00:00:00 +0530 Mon, 27 Mar 2017 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340887 The High Court dismissed the appeal challenging the Tribunal's decision on the deduction claim for expenses on Foreign Currency Convertible Bonds (FCCBs). The Court upheld the allowance of the claim as revenue expenditure, following precedents and determining the FCCB expenditure as revenue in nature. The Court found no reason to deviate from the consistent legal position on the issue, ruling in favor of the Respondent and affirming the Tribunal's decision. Case-Laws Income Tax Thu, 16 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340887