THE PRL COMMISSIONER OF INCOME TAX [CENTRAL] HYDERABAD vs. M/S SREE NAGENDRA CONSTRUCTIONS, KHAMMAM
In the result, appeal stands dismissed
ITTA/490/2016HC Telangana21 Aug 2018
Bench: This
Section 10Section 260Section 260ASection 35Section 43
2.
Whether on the facts and in the
circumstances of the case, the Tribunal is
right in setting aside the disallowance of
exchange fluctuation loss of Rs.3,63,47,099/-
made by the assessing authority even when
the
CBDT
Instruction
No.3/2010
dated
23.03.2010 refers to market losses are
notional and contingent and actual losses are
allowable as non-speculative only
