Tribunal held that capital advance made to subsidiary ,restatement of foreign currency loan is capital in nature and not allowable as deduction in view of Accounting Standard, Para 11. ( AY.2009 10 to 2013-14)
Manipal Health Systems P. Ltd. v. ACIT (2018) 65 ITR 51 (SN) (Bang) (Trib)
S. 43A : Rate of exchange – Foreign currency – Capital advance made to subsidiary- Notional Loss — Restatement of foreign currency loan is capital in nature and not allowable as deduction. [Accounting Standard, Para 11.]