Fluctuation - Judgment Search Results

Vinodchandra Hiralal Gandhi Vs. Vivekanand Mills Ltd.

Court: Gujarat

Reported in: (1965)6GLR889

p n bhagwati j 1 a very short question arises in this appeal namely how far a negative stipulation can...

Asstt. Commissioner of Incometax Vs. Mupnar Films Limited

Court: Income Tax Appellate Tribunal ITAT Indore

..... investment allowance is allowable on increased cost of plant and machinery on account of fluctuation in exchange rate investment allowance is not excluded from the purview of section 43a ..... not revenue expenditure sutlej cotton mills ltd v cit applied additional liability arising due to fluctuation in foreign exchange rate in respect of payments of outstanding instalments of machinery cannot .....

Essar Steel Ltd. Vs. Deputy Cit

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2005)97ITD125(Ahd.)

..... expenditure was left uncovered basically the foreign exchange contracts were entered for hedging the fluctuations in foreign exchange the purpose for which contracts was entered was not fulfilled several ..... expenditure was left uncovered basically the foreign exchange contracts were entered for hedging the fluctuations in foreign exchange the purpose for which contract was entered was not fulfilled .....

Lakhanpal National Ltd. Vs. Income Tax Officer

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (1999)69ITD9(Ahd.)

..... capital asset it was further submitted that the company incurred the liability for exchange rate fluctuation when it started drawing upon the loan account to make the purchase of machinery ..... with the act the time dimension assumes special significance now the incremental cost occasioned by fluctuation in rate of exchange comes into being after depreciation investment allowance is allowed to the .....

Deputy Commissioner of Vs. Maruti Udyog Ltd.

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (2006)99ITD666(Delhi)

..... to the allowability of loss on account of exchange rate fluctuation of course the controversy vis a vis the aspect regarding ..... system in terms of such system the assessee calculated the fluctuation in foreign exchange rates with respect to the foreign currency ..... liability debited by the assessee on account of exchange rate fluctuation does not possess these features it remains only a notional .....

Oil and Natural Gas Commission Vs. Additional Commissioner of

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (1999)69ITD69(Delhi)

..... particular year admittedly the liabilities on which the appellant is claiming foreign exchange fluctuation losses are long term liabilities generated in earlier years and remaining undischarged during ..... order that admittedly the liabilities on which the appellant is claiming foreign exchange fluctuation losses are long term liabilities generated in earlier years and remaining undischarged during .....

S.S.i. Limited Vs. Deputy Commissioner of Income Tax

Court: Income Tax Appellate Tribunal ITAT Chennai

Reported in: (2004)85TTJ(Chennai)1049

..... share capital and share premium he further submitted that the receipt on account of exchange fluctuation was not earned from anybody but was only the difference between the notionally recorded value ..... departmental representative therefore submitted that it is an admitted accounting principle of the assessee that fluctuations on the basis of fixed assets and loans are adjusted to the cost of the .....

Indian Shaving Products Ltd. Vs. Dy. C.i.T. (Asstt.) Spl. Range-2

Court: Income Tax Appellate Tribunal ITAT Jaipur

Reported in: (2007)106ITD80(JP.)

..... the assessee would be entitled to claim the additional investment allowance provided such foreign currency fluctuation takes place within the period of eight years from the expiry of the previous ..... other court evidence relating to liabilities of the assessee and higher liability discharged due to fluctuation of foreign exchange was not clear in this case question relating to satisfaction of .....

Tube Investments of India Ltd. Vs. Joint Commissioner of Income Tax Sp ...

Court: Chennai

..... that the foreign exchange loan was utilized for acquisition of imported machinery treating the entire fluctuation as being relatable to imported machinery is not justified in other words it is contended ..... governor india p ltd the supreme court considered the allowability of expenditure arising out of fluctuation in rate of exchange referring to accounting standards 11 the supreme court pointed out .....

Deputy Commissioner of Income Tax Vs. Eicher Goodearth. (Eicher

Court: Income Tax Appellate Tribunal ITAT Delhi

..... upheld the alternative contention of the ao that the loss on account of foreign exchange fluctuations pertaining to earlier years was required to be added back while computing book profits ..... support his contention the entry relating to additional liability arising on account of foreign exchange fluctuations made in the year under consideration was in conformity with the guidance notes accounting .....