https://www.taxtmi.com/caselaws?id=20328 The court held that the loss due to exchange rate fluctuations while remitting loan instalments for purchasing a capital asset is a capital loss, not a revenue expense. The amount will modify the actual cost of the asset for depreciation purposes under section 43A of the Income-tax Act. The decision favored the Revenue, denying the assessee's claim to deduct the loss in computing business income. en-us Mon, 30 Aug 1993 00:00:00 +0530 Fri, 13 Nov 2009 13:02:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20328 The court held that the loss due to exchange rate fluctuations while remitting loan instalments for purchasing a capital asset is a capital loss, not a revenue expense. The amount will modify the actual cost of the asset for depreciation purposes under section 43A of the Income-tax Act. The decision favored the Revenue, denying the assessee's claim to deduct the loss in computing business income. Case-Laws Income Tax Mon, 30 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20328