https://www.taxtmi.com/caselaws?id=402315 The appellate tribunal partially allowed the appellant's claim for a deduction of forex loss, reducing the amount to Rs. 41,96,702 for the assessment year in question. It was determined that the assessing officer cannot entertain claims not in the original return unless revised, but appellate authorities have the discretion to consider such claims. The tribunal emphasized the distinction between revised and corrected returns, directing the assessing officer to grant the specified deduction towards forex loss for the relevant assessment year. en-us Wed, 11 Nov 2020 00:00:00 +0530 Tue, 29 Dec 2020 10:51:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402315 The appellate tribunal partially allowed the appellant's claim for a deduction of forex loss, reducing the amount to Rs. 41,96,702 for the assessment year in question. It was determined that the assessing officer cannot entertain claims not in the original return unless revised, but appellate authorities have the discretion to consider such claims. The tribunal emphasized the distinction between revised and corrected returns, directing the assessing officer to grant the specified deduction towards forex loss for the relevant assessment year. Case-Laws Income Tax Wed, 11 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402315