Foreign Exchange Loss to be allowed as Revenue Expenditure and is to be charged into the Profit and Loss Account: ITAT [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal in the case of M/s Baby Memorial Hospital v. The Assistant Commissioner of Income Tax ruling in favour of the assessee held that Foreign Exchange Loss to be allowed as revenue expenditure and is to be charged into the Profit and Loss account. The Principal Commissioner […]

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