https://www.taxtmi.com/caselaws?id=786261 Revision under section 263 concerned the validity of an assessment under section 143(3) where the assessee's claim for foreign exchange fluctuation loss on an outstanding ECB loan had been allowed in computation of income. The Calcutta High Court had accepted the claim on a mark-to-market basis. The Supreme Court did not examine the substantive tax issue and dismissed the special leave petition because of an inordinate delay of 1157 days in filing it, leaving the High Court ruling undisturbed. en-us Mon, 02 Feb 2026 00:00:00 +0530 Tue, 10 Feb 2026 07:46:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786261 Revision under section 263 concerned the validity of an assessment under section 143(3) where the assessee's claim for foreign exchange fluctuation loss on an outstanding ECB loan had been allowed in computation of income. The Calcutta High Court had accepted the claim on a mark-to-market basis. The Supreme Court did not examine the substantive tax issue and dismissed the special leave petition because of an inordinate delay of 1157 days in filing it, leaving the High Court ruling undisturbed. Case-Laws Income Tax Mon, 02 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786261