https://www.taxtmi.com/highlights?id=55014 Disallowance of Forex Loss - although there was import of capital assets in those years when ECB loans were borrowed but there was substantial exports also and the assertion of the assessee is this that such export proceeds were used for import of capital assets and ECB loan was not used for that purpose and the learned DR of the revenue could not bring any evidence on record to show that ECB loans were used for import of capital goods, claim of the assessee allowed - AT en-us Mon, 05 Oct 2020 08:42:03 +0530 Mon, 05 Oct 2020 08:42:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55014 Disallowance of Forex Loss - although there was import of capital assets in those years when ECB loans were borrowed but there was substantial exports also and the assertion of the assessee is this that such export proceeds were used for import of capital assets and ECB loan was not used for that purpose and the learned DR of the revenue could not bring any evidence on record to show that ECB loans were used for import of capital goods, claim of the assessee allowed - AT Highlights Income Tax Mon, 05 Oct 2020 08:42:03 +0530 https://www.taxtmi.com/highlights?id=55014