VGM EXPORT,VASCO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO
ITA 114/PAN/2023[2010-11]Status: DisposedITAT Panaji25 Feb 2025AY 2010-11
Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 114/Pan/2023 Assessment Year : 2010-11 Vgm Export Suvarn Bandekar Building, Swatantra Path, Vasco, Goa Pan : Aaafv6197P . . . . . . . Applicant V/S Joint Commissioner Of Income Tax, Margao Range, Margao. . . . . . . . Respondent Appearances Assessee By : Mr P B Deshpande [‘Ld. Ar’] Revenue By : Mr Ravindra Hattalli [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 20/02/2025 घोषणा की तारीख / Date Of Pronouncement : 25/02/2025
For Appellant: Mr P B Deshpande [‘Ld. AR’]For Respondent: Mr Ravindra Hattalli [‘Ld. DR’]
Section 143(1)Section 143(2)Section 143(3)Section 14ASection 250Section 40
c)
₹1,14,11,643/- disallowance of forex fluctuation loss claimed in respect of closing balance of sale proceeds held in Exchange Earners
Foreign Currency Account [‘EEFC A/c’ hereinafter] maintained with two IDBI banks and Bank of Maharashtra.
ITAT-Panaji Page 2 of 16
VGM Export Vs JCIT, Margao
ITA Nos.114/PAN/2023 AY: 2010-11
3. Aggrieved assessee filed an appeal
