https://www.taxtmi.com/caselaws?id=58261 The Tribunal allowed the appeal filed by the assessee-company, holding that the conversion rate applied by the IAC was correct as per the amended rule 115. The Tribunal determined that rule 115 was procedural and should apply to assessments made after the effective date of the amendment. Consequently, the Commissioner's order under section 263 was deemed incorrect and canceled in favor of the assessee. en-us Mon, 27 Aug 1984 00:00:00 +0530 Sat, 18 Dec 2010 11:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58261 The Tribunal allowed the appeal filed by the assessee-company, holding that the conversion rate applied by the IAC was correct as per the amended rule 115. The Tribunal determined that rule 115 was procedural and should apply to assessments made after the effective date of the amendment. Consequently, the Commissioner's order under section 263 was deemed incorrect and canceled in favor of the assessee. Case-Laws Income Tax Mon, 27 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58261