https://www.taxtmi.com/caselaws?id=466104 Challenge to disallowance of foreign exchange fluctuation loss was remitted for fresh consideration by the Tribunal in light of the principle in Azadi Bachao Andolan, with the substantial question answered to the extent that the Tribunal must re-examine the issue in favour of the assessee. Separate challenge to partial disallowance of depreciation claimed for a Gurgaon building leased to a subsidiary was upheld against the assessee, with the High Court affirming the Tribunals and assessing authorities conclusion that depreciation claim is not allowable under the facts, resulting in an outcome favourable to the Revenue. en-us Thu, 26 Aug 2021 00:00:00 +0530 Thu, 22 Jan 2026 14:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466104 Challenge to disallowance of foreign exchange fluctuation loss was remitted for fresh consideration by the Tribunal in light of the principle in Azadi Bachao Andolan, with the substantial question answered to the extent that the Tribunal must re-examine the issue in favour of the assessee. Separate challenge to partial disallowance of depreciation claimed for a Gurgaon building leased to a subsidiary was upheld against the assessee, with the High Court affirming the Tribunals and assessing authorities conclusion that depreciation claim is not allowable under the facts, resulting in an outcome favourable to the Revenue. Case-Laws Income Tax Thu, 26 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466104