https://www.taxtmi.com/caselaws?id=799511 Unrealised foreign-exchange gains arising on year-end reinstatement of foreign-currency ECB liabilities used to acquire capital assets in India must be recognised in taxable income under section 43AA. Section 43A's actual-cost adjustment mechanism applies only when its conditions, including acquisition of an asset from outside India, are met. Foreign-currency denomination or an overseas ECB source does not make assets acquired in India imported assets. Failure to satisfy section 43A does not remove the transaction from section 43AA. en-us Fri, 04 Sep 2026 00:00:00 +0530 Wed, 23 Sep 2026 08:48:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799511 Unrealised foreign-exchange gains arising on year-end reinstatement of foreign-currency ECB liabilities used to acquire capital assets in India must be recognised in taxable income under section 43AA. Section 43A's actual-cost adjustment mechanism applies only when its conditions, including acquisition of an asset from outside India, are met. Foreign-currency denomination or an overseas ECB source does not make assets acquired in India imported assets. Failure to satisfy section 43A does not remove the transaction from section 43AA. Case-Laws Income Tax Fri, 04 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799511