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Misinterpretation of Section 43A: Depreciation Disallowed on Capitalized Foreign Exchange Loss for Model Fees Payment.
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....Disallowance of depreciation on Foreign exchange (forex) loss on the payment of model fees, which was capitalized - not considering the adjusted cost as the cost of acquisition of capital asset for allowing depreciation, results into distortion of the provisions of section 43A, which is impermissible - AT....