https://www.taxtmi.com/caselaws?id=374662 The Tribunal held that the assessee had commenced its business in the financial year 2008-09 and that the advancement of money to the subsidiary was for business purposes. Consequently, the foreign exchange fluctuation loss was deemed allowable as a business expenditure. The Revenue's appeal was dismissed. en-us Mon, 04 Feb 2019 00:00:00 +0530 Wed, 20 Mar 2019 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374662 The Tribunal held that the assessee had commenced its business in the financial year 2008-09 and that the advancement of money to the subsidiary was for business purposes. Consequently, the foreign exchange fluctuation loss was deemed allowable as a business expenditure. The Revenue's appeal was dismissed. Case-Laws Income Tax Mon, 04 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374662