https://www.taxtmi.com/caselaws?id=416950 The Tribunal allowed the assessee's appeal regarding the disallowance of foreign exchange loss on the restatement of the EEFC account, holding that the foreign exchange loss was not notional but related to regular business operations. The addition made by the Assessing Officer was deleted. Additionally, the Tribunal upheld the treatment of finance lease rentals as revenue expenditure, dismissing the Revenue's appeal and affirming the directions on TDS compliance and depreciation claims. The final order partially allowed the assessee's appeal and dismissed the Revenue's appeal. en-us Tue, 04 Jan 2022 00:00:00 +0530 Wed, 12 Jan 2022 08:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416950 The Tribunal allowed the assessee's appeal regarding the disallowance of foreign exchange loss on the restatement of the EEFC account, holding that the foreign exchange loss was not notional but related to regular business operations. The addition made by the Assessing Officer was deleted. Additionally, the Tribunal upheld the treatment of finance lease rentals as revenue expenditure, dismissing the Revenue's appeal and affirming the directions on TDS compliance and depreciation claims. The final order partially allowed the assessee's appeal and dismissed the Revenue's appeal. Case-Laws Income Tax Tue, 04 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416950