Held that  mark-to-market loss on swap contract was allowable where loans were converted into foreign currency loan to take benefit of low interest rate and loss recognized on account of foreign exchange fluctuation as per notified Accounting Standard 11 was an accrued and subsisting liability and not merely a contingent or hypothetical liability. Allowable as deduction. Order of CIT(A) is affirmed. (AY. 2015-16)