https://www.taxtmi.com/caselaws?id=371797 The High Court ruled in favor of the Assessee on all three issues. It held that the loss arising from foreign exchange fluctuation was an ascertained liability and should not be added back to the book profit under Section 115JA. Additionally, the interest received from employee loans and advances to suppliers was found to be directly related to the business activities and eligible for deductions under Section 80IB and Section 80IA, respectively. The Court answered the substantial questions of law in favor of the Assessee, allowing the appeals. en-us Fri, 02 Nov 2018 00:00:00 +0530 Tue, 11 Dec 2018 06:32:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371797 The High Court ruled in favor of the Assessee on all three issues. It held that the loss arising from foreign exchange fluctuation was an ascertained liability and should not be added back to the book profit under Section 115JA. Additionally, the interest received from employee loans and advances to suppliers was found to be directly related to the business activities and eligible for deductions under Section 80IB and Section 80IA, respectively. The Court answered the substantial questions of law in favor of the Assessee, allowing the appeals. Case-Laws Income Tax Fri, 02 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371797