https://www.taxtmi.com/caselaws?id=791395 Foreign exchange fluctuation loss on FCCB borrowings used for business purposes was treated as a real revenue loss and not a notional item, so the disallowance failed; the corresponding adjustment to book profit under section 115JB also fell away. Employees' contribution to PF and ESI paid after the statutory due dates remained inadmissible despite payment before the return filing date, because section 36(1)(va) requires compliance with the prescribed deposit deadlines. A reassessment addition for the same foreign exchange loss already disallowed in the original assessment could not be sustained, as it resulted in a duplicate addition. en-us Fri, 27 Mar 2026 00:00:00 +0530 Mon, 11 May 2026 09:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791395 Foreign exchange fluctuation loss on FCCB borrowings used for business purposes was treated as a real revenue loss and not a notional item, so the disallowance failed; the corresponding adjustment to book profit under section 115JB also fell away. Employees' contribution to PF and ESI paid after the statutory due dates remained inadmissible despite payment before the return filing date, because section 36(1)(va) requires compliance with the prescribed deposit deadlines. A reassessment addition for the same foreign exchange loss already disallowed in the original assessment could not be sustained, as it resulted in a duplicate addition. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791395