{"id":2307,"date":"2018-09-09T07:21:37","date_gmt":"2018-09-09T07:21:37","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-phonex-lamps-india-ltd-2018-406-itr-550-all-hc-3\/"},"modified":"2018-09-09T07:21:37","modified_gmt":"2018-09-09T07:21:37","slug":"cit-v-phonex-lamps-india-ltd-2018-406-itr-550-all-hc-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-phonex-lamps-india-ltd-2018-406-itr-550-all-hc-3\/","title":{"rendered":"CIT  v. Phonex Lamps India Ltd.  (2018) 406 ITR 550 (All) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that, the Tribunal was justified in allowing the claim of depreciation on foreign exchange fluctuation which showed notional fluctuation.Adjustment can be made at each date of balance-sheet pending actual payment.<strong>\u00a0 <\/strong>( AY.1993 -94)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43A : Rate of exchange &#8211; Actual cost- Depreciation- Notional fluctuation- Imported assets acquired in foreign currency \u2014 Fluctuation in rate of exchange \u2014 Adjustment can be made at each date of balance-sheet pending actual payment. [ S.32 ]<\/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-2307","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Bd","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2307","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=2307"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2307\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}