{"id":1323,"date":"2018-06-12T10:08:31","date_gmt":"2018-06-12T10:08:31","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-spicer-india-ltd-bom-hc\/"},"modified":"2018-06-12T10:08:31","modified_gmt":"2018-06-12T10:08:31","slug":"pcit-v-spicer-india-ltd-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-spicer-india-ltd-bom-hc\/","title":{"rendered":"PCIT v. Spicer India Ltd ( Bom) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held Foreign exchange\u00a0 fluctuation\u00a0 on loan liability\u00a0 on fixed asset being notional and no actual payment was made would\u00a0\u00a0 not require any adjustment in the cost of the fixed assets\u00a0on accrual basis \u00a0as the S.43A is amended w.e.f 1 st April , 2003 . Referred CIT v. Woodward Governor India P. Ltd ( 2009) 312 ITR 254 (SC)\u00a0 (AY. 2003-04)\u00a0<\/p>\n<p>ITA NO .1129 of 2015 dt. 18 -04 -2018<\/p>\n<p>DCIT v. Spicer India Ltd (ITA No 1886 \/ PN\/ 2013 dt 20 -10-2014 (AY. 2003-04) (Pune) ( Trib)<\/p>\n<p><a href=\"https:\/\/www.itat.gov.in\/files\/uploads\/categoryImage\/67349850211419760301351REFNO1886_of_13_Spicer_India_Ltd.pdf\"><strong>[Click here to download PDF file] (<\/strong><b>Trib)<\/b><\/a><\/p>\n<p><a href=\"https:\/\/drive.google.com\/open?id=1xntViKVFzSQFoKuXVl1oGqZsmfx0LbV6\"><strong>[Click here to download PDF file] (HC)<\/strong><\/a><\/p>\n<p><strong>\u00a0\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43A : Rate of exchange &#8211; Foreign currency \u2013 Foreign exchange  fluctuation  on loan liability  on fixed asset being notional and no actual payment was made would   not require any adjustment in the cost of the fixed assets  on accrual basis , as the S.43A is amended w.e.f 1 st April , 2003 . [ S.37(1) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1323","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ll","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=1323"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1323\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=1323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=1323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=1323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}