https://www.taxtmi.com/caselaws?id=794233 Insurance premium write-back required verification against the final status of the original disallowance, so the matter was remitted for factual confirmation and consequential relief if warranted. Foreign exchange fluctuation loss on later payment, where the liability had not crystallised at year-end, was held not allowable in the relevant assessment year and was also not deductible in computing book profit under section 115JB. Prior period expenditure, including interest on financial institution borrowings and related charges, was allowed because the interest was covered by section 43B and the remaining expenses had crystallised and been paid in the year; the addition was deleted. The appeal therefore succeeded only in part. en-us Mon, 29 Jun 2026 00:00:00 +0530 Thu, 02 Jul 2026 08:07:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794233 Insurance premium write-back required verification against the final status of the original disallowance, so the matter was remitted for factual confirmation and consequential relief if warranted. Foreign exchange fluctuation loss on later payment, where the liability had not crystallised at year-end, was held not allowable in the relevant assessment year and was also not deductible in computing book profit under section 115JB. Prior period expenditure, including interest on financial institution borrowings and related charges, was allowed because the interest was covered by section 43B and the remaining expenses had crystallised and been paid in the year; the addition was deleted. The appeal therefore succeeded only in part. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794233