https://www.taxtmi.com/caselaws?id=308757 The Tribunal allowed the claim of foreign exchange loss as revenue expenditure under section 37(1), except for the portion attributable to fixed assets, which should be treated under section 43A. The issue of adjustment under section 145A was directed to adjust both opening and closing stocks. Regarding prior period expenses, the Tribunal directed the re-examination of certain disallowed expenses and allowed deductions for legal and professional fees. The appeal was partly allowed with specified adjustments and re-examinations. en-us Fri, 24 Sep 2010 00:00:00 +0530 Wed, 19 Jul 2023 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308757 The Tribunal allowed the claim of foreign exchange loss as revenue expenditure under section 37(1), except for the portion attributable to fixed assets, which should be treated under section 43A. The issue of adjustment under section 145A was directed to adjust both opening and closing stocks. Regarding prior period expenses, the Tribunal directed the re-examination of certain disallowed expenses and allowed deductions for legal and professional fees. The appeal was partly allowed with specified adjustments and re-examinations. Case-Laws Income Tax Fri, 24 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308757