Held that Foreign exchange loss on where non depreciable assets allowable as revenue expenditure and Foreign exchange gain to be assessed as business income. (AY. 2009-10, 2010-11)
Paramount Communications Ltd. v. Dy. CIT (2021) 90 ITR 20 (Delhi)(Trib.)
S. 28(i) : Business loss-Foreign exchange loss-No depreciable assets-Allowable as revenue expenditure-Foreign exchange gain to be assessed as business income.