https://www.taxtmi.com/caselaws?id=357098 The High Court of Bombay dismissed the appeal regarding the allowability of foreign exchange fluctuation loss as a business loss, finding that the issue was adequately addressed by the lower authorities and did not raise any substantial question of law. However, the Court admitted the appeal for further consideration on the interpretation of Rule 46(A)(4) of the Income Tax Rules 1962, specifically addressing the reliance on documents without notice/hearing. en-us Mon, 26 Feb 2018 00:00:00 +0530 Sat, 17 Mar 2018 08:02:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357098 The High Court of Bombay dismissed the appeal regarding the allowability of foreign exchange fluctuation loss as a business loss, finding that the issue was adequately addressed by the lower authorities and did not raise any substantial question of law. However, the Court admitted the appeal for further consideration on the interpretation of Rule 46(A)(4) of the Income Tax Rules 1962, specifically addressing the reliance on documents without notice/hearing. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357098