Case Law Details
Case Name : DCIT Vs FMI Automotive Components Pvt. Ltd. (ITAT Delhi)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Delhi
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DCIT Vs FMI Automotive Components Pvt. Ltd. (ITAT Delhi)
Adhoc Disallowances Without Defects Unsustainable – Delhi Tribunal Grants Full Relief; Revenue’s Case Collapses: ITAT Delhi Deletes Additions on Forex, Repairs & Insurance Claim
Revenue filed appeal against the order of CIT(A), NFAC, Delhi dated 30.05.2024 deleting various disallowances made by AO in the assessment of FMI Automotive Components Pvt. Ltd., a joint venture of Futaba Industrial Co. Ltd. & Maruti Suzuki India Ltd.
AO had disallowed foreign exchange fluctuation loss of Rs.5.90 crore on foreign currency loan util...
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