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Unsustainable Addition: Foreign Exchange Loss – Deduction Previously Allowed
Case Law Details
- Case Name
- Sabre Travel Network (India) Pvt Ltd Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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Sabre Travel Network (India) Pvt Ltd Vs DCIT (ITAT Mumbai)
ITAT Mumbai held that addition made on account of foreign exchange loss unsustainable as the same is duly allowed as deduction by the Tribunal in past.
Facts- The assessee is a wholly owned subsidiary of Sabre Asia Pacific Pte Ltd. (SAP). SAP provides a Computerised Reservation System (CRS) that facilitates the travel agents to provide Travel information, hotel and cab booking facilities and facilitates to make air bookings. The assessee promotes the CRS offered by SAP in India. SAP remains the owner of CRS. In order t...
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