Foreign Exchange Rate Fluctuations: Deductibility of Additional Liability under Income Tax Act Section 43A Examined.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Whether additional liability on actual cost of asset in respect of fluctuations in foreign exchange rate be deductible u/s 43A - Amendment to Section 43A by Finance Act, 2002 w.e.f 1.4.2003 was amendatory and not clarificatory - HC....