Held that loss suffered on account of exchange difference as on date of balance sheet is an item of allowable expenditure. (AY. 2010-11)
Everest Industries Ltd. v. DCIT (2022) 196 ITD 563 (Mum.)(Trib.)
S. 37(1) : Business expenditure-Loss on account of exchange difference-Allowable as deduction. [S. 28(i)]