https://www.taxtmi.com/caselaws?id=285120 The Tribunal upheld the CIT(A)'s decision, allowing the deduction under section 10B for gains from foreign exchange fluctuation as part of the receipt of sale proceeds. The Tribunal emphasized that the gain was due to a change in the exchange rate upon receiving the sale proceeds, not from banking activities. Consequently, the Revenue's appeal against the disallowance of the deduction was dismissed. en-us Wed, 09 Sep 2009 00:00:00 +0530 Fri, 27 Dec 2019 11:18:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285120 The Tribunal upheld the CIT(A)'s decision, allowing the deduction under section 10B for gains from foreign exchange fluctuation as part of the receipt of sale proceeds. The Tribunal emphasized that the gain was due to a change in the exchange rate upon receiving the sale proceeds, not from banking activities. Consequently, the Revenue's appeal against the disallowance of the deduction was dismissed. Case-Laws Income Tax Wed, 09 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285120