2009 (10) TMI 42

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....ohra, Ms. Kavita Jha, Sandeep S. Karhail , Sukumaran , Rajesh Khaware and Ms. Meera Mathur for the respondent. ORDER By consent, the matter is taken up and   disposed of. 2. Delay condoned. 3. Leave granted. 4.Though the High Court has admitted the appeal and though it has framed questions of law, it is the grievance of the Department that the following questions have also....

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.... 6. Before concluding, we may state that the Tribunal was right in holding that the claim for depreciation on account of enhanced cost of depreciation due to fluctuation in foreign exchange rate was admissible for deduction under Section 37 of the Income Tax Act, 1961 (see our judgment in CIT v. Woodward Governor India P. Ltd. reported in [2009] 312 ITR 254 (SC). Similarly, the question as to wh....