https://www.taxtmi.com/caselaws?id=37300 The court ruled against the assessee, denying the deduction of excess amounts paid to an Italian company due to exchange rate fluctuations as revenue expenditure. The court determined the excess payments were capital in nature, not eligible for deduction, emphasizing the distinction between revenue and capital expenditure in the context of exchange rate fluctuations affecting purchase price payments. en-us Wed, 28 Feb 1979 00:00:00 +0530 Mon, 29 Mar 2010 10:05:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37300 The court ruled against the assessee, denying the deduction of excess amounts paid to an Italian company due to exchange rate fluctuations as revenue expenditure. The court determined the excess payments were capital in nature, not eligible for deduction, emphasizing the distinction between revenue and capital expenditure in the context of exchange rate fluctuations affecting purchase price payments. Case-Laws Income Tax Wed, 28 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37300