High Court Confirms Foreign Exchange Fluctuation Losses as Allowable Expenditures Under Income Tax Act Section 43A.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Allowability of amount u/s 43A - foreign exchange fluctuation - But the word “expenditure” used in context of Section 37(1) would also cover loss even though the said amount had not gone out from the pocket of the assessee - HC....