Assessee claimed expenditure on account of premium paid on foreign exchange forward contracts entered into by assessee for purpose of repayment of foreign exchange loan taken for its projects. Assessing Officer disallowed same on ground that premium paid was in relation to foreign currency loan taken for execution of projects and it was capital in nature. Tribunal held that  as per Accounting Standard (AS)-11 premium paid on foreign exchange forward contracts to be amortized as revenue expense over life of contract. Therefore, assessee was entitled to claim amortization of premium paid on foreign exchange contracts entered into by it for purpose of repayment of loan. (AY. 2014-15 to 2016-17)