PR COMMISSIONER OF vs. M/S SUBEX LTD

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

disallowed the deduction/debit. This fact is - 8 - important. It indicates the double standards adopted by the Department.” 10. Analyzing Section 43A

PR COMMISSIONER OF INCOME TAX vs. M/S UNITED SPIRITS LTD

Bench: S.SUJATHA,RAVI V HOSMANI

section 43A distinguishing the capital/revenue nature imbibed therein to result in consideration thereof as were claimed by the assessee before the authorities below. The assessee himself rendered income on gain from exchange fluctuation on identical nature of revenue from loans remaining unpaid. The same is to be allowed on the facts and circumstances of the assessee. 16. The assessee

THE PR COMMISSIONER OF INCOME TAX vs. M/S BANGALORE INTERNATIONAL

Appeal is dismissed; and

Bench: P.S.DINESH KUMAR,UMESH M ADIGA

disallowance of Rs.29,83,65,068/- being foreign exchange gain by holding that the gain made on account of restatement of external commercial borrowings is on capital account and liable to tax even when the assessee had failed to substantiate its claim by producing proof/evidences and details in support of such claim? 2. Whether in the facts and circumstances