https://www.taxtmi.com/caselaws?id=284352 The tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision that the amortised amount of exchange differences from foreign currency borrowings should not be included in the computation of "Book Profit" under Section 115JB of the Income Tax Act, 1961. The tribunal emphasized that the liability was not contingent and should not be added to the net profit as per the Companies Act. The judgment was delivered on August 24, 2016. en-us Wed, 24 Aug 2016 00:00:00 +0530 Thu, 14 Nov 2019 10:33:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284352 The tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision that the amortised amount of exchange differences from foreign currency borrowings should not be included in the computation of "Book Profit" under Section 115JB of the Income Tax Act, 1961. The tribunal emphasized that the liability was not contingent and should not be added to the net profit as per the Companies Act. The judgment was delivered on August 24, 2016. Case-Laws Income Tax Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284352