https://www.taxtmi.com/caselaws?id=414759 The High Court allowed the appellant-company's appeal regarding the claim for additional depreciation allowance adjustment due to exchange rate fluctuation for the assessment year 1994-95. The Court emphasized the need to consider the effect of exchange rate fluctuation on the cost of plant and machinery, citing relevant legal precedents. Relying on previous judgments, the Court ruled in favor of the appellant, setting aside the ITAT and AO's orders and restoring the CIT (A)'s decision to allow the claim. The Court concluded in favor of the appellant, directing the issuance of an urgent certified copy of the order. en-us Wed, 10 Nov 2021 00:00:00 +0530 Tue, 16 Nov 2021 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414759 The High Court allowed the appellant-company's appeal regarding the claim for additional depreciation allowance adjustment due to exchange rate fluctuation for the assessment year 1994-95. The Court emphasized the need to consider the effect of exchange rate fluctuation on the cost of plant and machinery, citing relevant legal precedents. Relying on previous judgments, the Court ruled in favor of the appellant, setting aside the ITAT and AO's orders and restoring the CIT (A)'s decision to allow the claim. The Court concluded in favor of the appellant, directing the issuance of an urgent certified copy of the order. Case-Laws Income Tax Wed, 10 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414759