Upgrade to AI Search ✕

We've upgraded AI Search on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

Section 43A Applies Only to Foreign Currency Fluctuations During Loan Repayment, Not Year-End Loan Restatements.

X X X X Extracts X X X X

Full Text of the Document

X X X X Extracts X X X X

....Revision u/s 263 - the Ld Pr. CIT has correctly explained that the provisions of sec. 43A shall apply only to those fluctuations in foreign currency which arises at the time of making repayment of loan, i.e., it does not apply to marked to market loss arising on account of restatement of loan at the year end.....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

Section 43A Applies Only to Foreign Currency Fluctuations During Loan Repayment, Not Year-End Loan Restatements.