https://www.taxtmi.com/caselaws?id=12211 The court held that the non obstante clause in Section 43A overrides Section 32A, allowing adjustments to the actual cost of assets due to foreign exchange fluctuations within the eight-year period specified in Section 32A. Investment allowance can be claimed on the increased cost resulting from foreign exchange fluctuations within this period, with interest on deferred credit facilities treated as business expenditure. The case was referred back to the Division Bench for reconsideration based on this interpretation. en-us Sat, 19 Oct 2002 00:00:00 +0530 Fri, 19 Feb 2010 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12211 The court held that the non obstante clause in Section 43A overrides Section 32A, allowing adjustments to the actual cost of assets due to foreign exchange fluctuations within the eight-year period specified in Section 32A. Investment allowance can be claimed on the increased cost resulting from foreign exchange fluctuations within this period, with interest on deferred credit facilities treated as business expenditure. The case was referred back to the Division Bench for reconsideration based on this interpretation. Case-Laws Income Tax Sat, 19 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12211