https://www.taxtmi.com/caselaws?id=16376 The court concluded that the expenditure incurred by the assessee due to fluctuations in foreign exchange rates for remitting instalments towards the cost of plant and machinery is capital in nature. The court held that the extra expenses also carry a capital character as they were related to capital assets. Relying on precedents and High Court decisions, the court ruled against the assessee, determining the amounts as capital expenditure and not allowable as revenue expenditure for computing the assessee's income for the relevant years. en-us Tue, 09 Dec 1997 00:00:00 +0530 Mon, 07 Sep 2009 13:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16376 The court concluded that the expenditure incurred by the assessee due to fluctuations in foreign exchange rates for remitting instalments towards the cost of plant and machinery is capital in nature. The court held that the extra expenses also carry a capital character as they were related to capital assets. Relying on precedents and High Court decisions, the court ruled against the assessee, determining the amounts as capital expenditure and not allowable as revenue expenditure for computing the assessee's income for the relevant years. Case-Laws Income Tax Tue, 09 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16376