https://www.taxtmi.com/caselaws?id=49339 Where purchase and sale of property occurred in different currencies, a common conversion standard is required to determine real profit or loss; the Schedule to the Debtor and Creditor (Occupation Period) Ordinance, 1948, as the only authoritative conversion material resulting from a competent inquiry, was applied to scale down the occupation-currency purchase price into Malayan currency and used to compute taxable profit. The application of that conversion table to disallow the claimed loss was held valid and the appeal was dismissed in favour of the revenue. en-us Mon, 26 Oct 1964 00:00:00 +0530 Thu, 21 Aug 2014 19:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49339 Where purchase and sale of property occurred in different currencies, a common conversion standard is required to determine real profit or loss; the Schedule to the Debtor and Creditor (Occupation Period) Ordinance, 1948, as the only authoritative conversion material resulting from a competent inquiry, was applied to scale down the occupation-currency purchase price into Malayan currency and used to compute taxable profit. The application of that conversion table to disallow the claimed loss was held valid and the appeal was dismissed in favour of the revenue. Case-Laws Income Tax Mon, 26 Oct 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49339