Foreign Currency Fluctuation Premiums Deductible u/s 37(1), Not Disallowed by Section 43A of Income Tax Act.

Foreign Currency Fluctuation Premiums Deductible u/s 37(1), Not Disallowed by Section 43A of Income Tax Act. https://www.taxtmi.com/highlights?id=56905 Premium paid by the assessee to secure the fluctuation in the foreign currency - once the provisions of section 43A of the Act are not applicable on the deduction claimed by the assessee in the given facts and circumstances, there cannot be any disallowance by invoking the provisions of section 43A. - such expenses incurred by the assessee in the course of business are allowable as deduction u/s 37(1) - AT en-us Thu, 25 Feb 2021 10:17:56 +0530 Thu, 25 Feb 2021 10:17:56 +0530 TaxTMI RSS Generator Foreign Currency Fluctuation Premiums Deductible u/s 37(1), Not Disallowed by Section 43A of Income Tax Act. https://www.taxtmi.com/highlights?id=56905 Premium paid by the assessee to secure the fluctuation in the foreign currency - once the provisions of section 43A of the Act are not applicable on the deduction claimed by the assessee in the given facts and circumstances, there cannot be any disallowance by invoking the provisions of section 43A. - such expenses incurred by the assessee in the course of business are allowable as deduction u/s 37(1) - AT Highlights Income Tax Thu, 25 Feb 2021 10:17:56 +0530 https://www.taxtmi.com/highlights?id=56905