https://www.taxtmi.com/caselaws?id=462119 Foreign exchange fluctuation gain was held to raise no substantial question of law where the dispute depended on the Tribunal's factual finding that the gain was not connected with the assessee's business activity. The Gujarat HC treated the matter as identical to an earlier connected tax appeal arising from the same common Tribunal order and noted that the issue had already been resolved on appreciation of facts and material. On that basis, the court answered the substantial question of law against the Revenue and in favour of the assessee. en-us Wed, 12 Oct 2022 00:00:00 +0530 Sat, 24 May 2025 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462119 Foreign exchange fluctuation gain was held to raise no substantial question of law where the dispute depended on the Tribunal's factual finding that the gain was not connected with the assessee's business activity. The Gujarat HC treated the matter as identical to an earlier connected tax appeal arising from the same common Tribunal order and noted that the issue had already been resolved on appreciation of facts and material. On that basis, the court answered the substantial question of law against the Revenue and in favour of the assessee. Case-Laws Income Tax Wed, 12 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462119