https://www.taxtmi.com/caselaws?id=20912 The High Court held that the exchange difference claimed by the assessee was not deductible under sections 57(i) or 57(iii) of the Income-tax Act, as the income accrued in Indian rupees. The Court ruled in favor of the Revenue, denying the deduction and disposing of the reference with no order as to costs. en-us Mon, 18 Jan 1993 00:00:00 +0530 Wed, 18 Nov 2009 10:41:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20912 The High Court held that the exchange difference claimed by the assessee was not deductible under sections 57(i) or 57(iii) of the Income-tax Act, as the income accrued in Indian rupees. The Court ruled in favor of the Revenue, denying the deduction and disposing of the reference with no order as to costs. Case-Laws Income Tax Mon, 18 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20912