https://www.taxtmi.com/caselaws?id=284120 The Tribunal partly allowed the Revenue's appeal, remitting the matter for reassessment, and dismissed the assessee's appeal as the issue became irrelevant. The judgment highlighted the importance of distinguishing between taxing gains based on the nature of foreign currency transactions, whether on capital or revenue account, and emphasized the need to adhere to established legal principles in determining tax liability related to foreign exchange fluctuations. en-us Fri, 24 Apr 2015 00:00:00 +0530 Sat, 02 Nov 2019 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284120 The Tribunal partly allowed the Revenue's appeal, remitting the matter for reassessment, and dismissed the assessee's appeal as the issue became irrelevant. The judgment highlighted the importance of distinguishing between taxing gains based on the nature of foreign currency transactions, whether on capital or revenue account, and emphasized the need to adhere to established legal principles in determining tax liability related to foreign exchange fluctuations. Case-Laws Income Tax Fri, 24 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284120