https://www.taxtmi.com/caselaws?id=382378 The Tribunal allowed the appeal, setting aside the revision order passed by the PCIT. It held that the assessee's method of accounting for foreign exchange differences was consistent and accepted, and such differences should be treated as revenue items rather than part of the closing stock cost. The Tribunal found no basis for the revision order and ruled in favor of the assessee. en-us Mon, 03 Jun 2019 00:00:00 +0530 Mon, 01 Jul 2019 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382378 The Tribunal allowed the appeal, setting aside the revision order passed by the PCIT. It held that the assessee's method of accounting for foreign exchange differences was consistent and accepted, and such differences should be treated as revenue items rather than part of the closing stock cost. The Tribunal found no basis for the revision order and ruled in favor of the assessee. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382378