https://www.taxtmi.com/caselaws?id=385631 The ITAT allowed the appeal, directing the AO to delete the addition made by disallowing the forex loss related to advances from Dow Chemicals Pacific Limited. The ITAT held that the forex loss was a legitimate business expenditure, consistent with prior treatment and in accordance with accounting standards and relevant case law. en-us Tue, 14 May 2019 00:00:00 +0530 Tue, 10 Sep 2019 06:04:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385631 The ITAT allowed the appeal, directing the AO to delete the addition made by disallowing the forex loss related to advances from Dow Chemicals Pacific Limited. The ITAT held that the forex loss was a legitimate business expenditure, consistent with prior treatment and in accordance with accounting standards and relevant case law. Case-Laws Income Tax Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385631