https://www.taxtmi.com/caselaws?id=25075 The High Court held that the amount paid as an exchange difference was capital expenditure for acquiring plant and machinery, not a revenue loss. Therefore, the payment could not be added to the cost of plant and machinery for calculating admissible depreciation. The court ruled in favor of the Revenue, affirming that the payment was not deductible as revenue expenditure but rather as part of the purchase price of the machinery. Consequently, the court deemed the question of calculating admissible depreciation unnecessary and ordered no costs in the case. en-us Wed, 08 Aug 1984 00:00:00 +0530 Mon, 25 Jan 2010 12:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25075 The High Court held that the amount paid as an exchange difference was capital expenditure for acquiring plant and machinery, not a revenue loss. Therefore, the payment could not be added to the cost of plant and machinery for calculating admissible depreciation. The court ruled in favor of the Revenue, affirming that the payment was not deductible as revenue expenditure but rather as part of the purchase price of the machinery. Consequently, the court deemed the question of calculating admissible depreciation unnecessary and ordered no costs in the case. Case-Laws Income Tax Wed, 08 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25075