Sandisk India Device Design Centre Pvt. Ltd. v. ITO (2022) 93 ITR 569 (Bang.)(Trib.)

S. 37(1) : Business expenditure-Unrealised export sales and foreign exchange loss-Unbilled revenue brought into India lower than sum reduced b Assessing Officer-Allowable as deduction.

Held that the Assessing Officer was to consider the assessee’s claim regarding unrealised export sales and foreign exchange loss since the actual figure representing unbilled revenue that was brought into India after a period of six months from the end of the relevant previous year was much lower, as could be seen from form 56F filed by the assessee, than the sum that was reduced by the Assessing Officer. (AY.2010-11)