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.

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)