https://www.taxtmi.com/caselaws?id=788969 Foreign exchange loss on repayment of a foreign currency loan used to acquire shares in a subsidiary was treated as incidental to a business borrowing because the loan had a business purpose and the related interest had already been accepted as deductible; the disallowance was deleted. The contribution to the approved Employees Group Gratuity Trust Fund was not finally allowed because the approval history and supporting records required verification, so that issue was restored for fresh adjudication. The result was a partial allowance, with relief on the foreign exchange loss issue and remand on the gratuity trust deduction. en-us Mon, 09 Mar 2026 00:00:00 +0530 Wed, 01 Apr 2026 07:51:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788969 Foreign exchange loss on repayment of a foreign currency loan used to acquire shares in a subsidiary was treated as incidental to a business borrowing because the loan had a business purpose and the related interest had already been accepted as deductible; the disallowance was deleted. The contribution to the approved Employees Group Gratuity Trust Fund was not finally allowed because the approval history and supporting records required verification, so that issue was restored for fresh adjudication. The result was a partial allowance, with relief on the foreign exchange loss issue and remand on the gratuity trust deduction. Case-Laws Income Tax Mon, 09 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788969