https://www.taxtmi.com/caselaws?id=11625 Investment allowance was held admissible where exchange fluctuation liability arose directly from repayment of the principal borrowed to acquire capital equipment. The Gujarat HC followed the binding Full Bench view and answered the reference in favour of the assessee, treating the fluctuation loss as sufficiently connected with the capital borrowing used for the equipment purchase. The question was therefore answered in the affirmative and against the Revenue. en-us Wed, 20 Nov 2002 00:00:00 +0530 Wed, 03 Feb 2010 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11625 Investment allowance was held admissible where exchange fluctuation liability arose directly from repayment of the principal borrowed to acquire capital equipment. The Gujarat HC followed the binding Full Bench view and answered the reference in favour of the assessee, treating the fluctuation loss as sufficiently connected with the capital borrowing used for the equipment purchase. The question was therefore answered in the affirmative and against the Revenue. Case-Laws Income Tax Wed, 20 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11625