Deduction Eligibility Confirmed u/s 10AA: Foreign Exchange Loss Disallowed, Converts to Business Income, Section 80A(5) Not Applicable.

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....Deduction u/s 10AA - It is only account of disallowance of the forex loss u/s 37(1) that the returned loss stood converted into positive business income for the relevant year and as a consequence, the assessee became eligible to claim deduction - Statutory bar provided in Section 80A(5) did not operate as there was no “failure” on the assessee’s part to claim deduction - deduction allowable....