SMT. SUMAN LAKHANI,NEW DELHI vs. ACIT, FARIDABAD

In the result, the penalty amounting to Rs

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

penalty u/s 271(1 )(c) which are dealt with as under On the factual front, there is loss in foreign exchange fluctuation. Whether it is capital in nature or revenue in nature is the issue of contention. During the year under consideration the assessee suffered loss due to foreign exchange rate fluctuations. This was in relation to import of machinery

DCIT, NEW DELHI vs. M/S. GRANITE GATE PROPERTIES PVT. LTD., NEW DELHI