Assessee-company purchased fixed assets by taking loan in foreign currency and suffered foreign exchange loss of Rs. 2.16 crores. Against this, foreign exchange gain of Rs. 53.06 lakhs against capital work-in-progress was adjusted and balance of Rs. 1.63 crores was added back in computation of income. Assessing Officer/DRP sought to add said Rs. 53.06 lakhs to income of assessee. On appeal the Tribunal held that  foreign exchange loss on acquisition of fixed assets was not allowable as an expenditure in view of section 43A; thus, foreign exchange gain of Rs. 53.06 lakhs was to be adjusted against loss; and net amount of Rs. 1.63 crores was to be offered to tax. (AY. 2012-13)