https://www.taxtmi.com/caselaws?id=20476 The court ruled against the company, stating that the loss arising from the devaluation of the Indian rupee in the repayment of a foreign currency loan for capital goods is not deductible as a revenue expenditure for tax purposes. The court emphasized the distinction between revenue and capital expenditures in such cases, ultimately deciding in favor of the Revenue and denying the company's claim for deduction of the increased liability due to devaluation. en-us Mon, 04 Oct 1993 00:00:00 +0530 Sat, 14 Nov 2009 11:54:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20476 The court ruled against the company, stating that the loss arising from the devaluation of the Indian rupee in the repayment of a foreign currency loan for capital goods is not deductible as a revenue expenditure for tax purposes. The court emphasized the distinction between revenue and capital expenditures in such cases, ultimately deciding in favor of the Revenue and denying the company's claim for deduction of the increased liability due to devaluation. Case-Laws Income Tax Mon, 04 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20476