https://www.taxtmi.com/caselaws?id=402391 The Tribunal upheld the CIT(A)'s decisions on key issues: 1) Deletion of addition on account of buyback of FCCBs as capital receipt not taxable; 2) Disallowance of depreciation on enhanced cost due to exchange fluctuation not applicable; 3) Deletion of addition in returned loss of exempted unit under section 10B allowed for carry forward; 4) Allowability of foreign exchange fluctuation loss as deduction dismissed due to depreciation allowance; 5) Addition under section 14A to book profits under section 115JB deleted based on computation principles. The Tribunal dismissed Revenue's appeal and partly allowed the assessee's appeal, maintaining consistency with legal principles and precedents. en-us Thu, 03 Dec 2020 00:00:00 +0530 Thu, 31 Dec 2020 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402391 The Tribunal upheld the CIT(A)'s decisions on key issues: 1) Deletion of addition on account of buyback of FCCBs as capital receipt not taxable; 2) Disallowance of depreciation on enhanced cost due to exchange fluctuation not applicable; 3) Deletion of addition in returned loss of exempted unit under section 10B allowed for carry forward; 4) Allowability of foreign exchange fluctuation loss as deduction dismissed due to depreciation allowance; 5) Addition under section 14A to book profits under section 115JB deleted based on computation principles. The Tribunal dismissed Revenue's appeal and partly allowed the assessee's appeal, maintaining consistency with legal principles and precedents. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402391