{"id":28229,"date":"2022-07-09T14:51:02","date_gmt":"2022-07-09T09:21:02","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-united-spirits-ltd-2022-442-itr-451-284-taxman-568-karn-hc-pcit-v-mcdowell-and-co-ltd-2022-442-itr-451-284-taxman-568-karn-hc\/"},"modified":"2022-07-09T14:51:02","modified_gmt":"2022-07-09T09:21:02","slug":"pcit-v-united-spirits-ltd-2022-442-itr-451-284-taxman-568-karn-hc-pcit-v-mcdowell-and-co-ltd-2022-442-itr-451-284-taxman-568-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-united-spirits-ltd-2022-442-itr-451-284-taxman-568-karn-hc-pcit-v-mcdowell-and-co-ltd-2022-442-itr-451-284-taxman-568-karn-hc\/","title":{"rendered":"PCIT. v. United Spirits Ltd. (2022) 442 ITR 451 \/ 284 Taxman 568 (Karn.)(HC) PCIT v. Mcdowell and Co. Ltd. (2022) 442 ITR 451 284 Taxman 568 (Karn.)(HC)"},"content":{"rendered":"<p>Foreign exchange loss on account of fluctuations in rate of foreign exchange is allowable as deduction. Followed. CIT v. Woodward Governor India (P.) Ltd (2009) 312 ITR 254 (SC). (AY. 2005-06, 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Loss on account of  fluctuations in rate of  Foreign exchange-Deductible. <\/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":[21],"tags":[],"class_list":["post-28229","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7lj","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28229","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=28229"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28229\/revisions"}],"predecessor-version":[{"id":28230,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28229\/revisions\/28230"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}