In the matter of non-grant of depreciation on foreign exchange loss disallowed as capital expenses in AY 2009-10. The Tribunal held that the same is consequential to the order in AY 2009-10, and therefore, the Assessee is entitled to claim depreciation on foreign exchange loss disallowed as capital expenditure. Therefore, the AO was directed to allow the same. (AY. 2010-11, 2011-12)
Ul India Pvt. Ltd. v. Dy. CIT (2022)96 ITR 191 (Bang)(Trib)
S. 32 : Depreciation-Foreign exchange loss-Loss disallowed as capital expenditure-Directed the Assessing Officer to pass consequential order allowing the depreciation.