Allowing the appeal of the assessee the Court held that the assessee is entitled to depreciation on increased cost of plant and machinery on account of foreign exchange rate fluctuations. (AY. 1994-95)
Ispat Alloys Ltd. v. Dy. CIT (2022) 284 Taxman 542 (Orissa)(HC)
S. 32 : Depreciation-Increased cost of plant and machinery-Foreign Exchange rate fluctuations-Allowable.