https://www.taxtmi.com/caselaws?id=306166 The Tribunal ruled that foreign exchange fluctuation gains from the repayment of a personal loan in US Dollars were capital receipts and not taxable under the Income Tax Act. The Assessing Officer's addition of Rs 22,04,568 was deemed unsustainable, and the AO was instructed to remove it. The appeal favored the assessee, emphasizing that gains from the exchange rate fluctuation, in this case, were not subject to taxation. en-us Mon, 17 May 2021 00:00:00 +0530 Sat, 18 Apr 2026 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306166 The Tribunal ruled that foreign exchange fluctuation gains from the repayment of a personal loan in US Dollars were capital receipts and not taxable under the Income Tax Act. The Assessing Officer's addition of Rs 22,04,568 was deemed unsustainable, and the AO was instructed to remove it. The appeal favored the assessee, emphasizing that gains from the exchange rate fluctuation, in this case, were not subject to taxation. Case-Laws Income Tax Mon, 17 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306166