DCIT Vs. Honeywell International (India) Pvt. Ltd. (ITAT Delhi)

The CIT (A) in a well-reasoned and well-discussed order has not committed any error in coming to a conclusion that the assessee was entitled to claim deduction on account of foreign exchange fluctuation loss. (Para 15)  IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI D.R. SINGH, JM & SHRI DEEPAK R. SHAH, AM I.T.A. No. 1359/Del/2007 Assessment Year: 2003-04 DCIT, Circle 12 (1), New Delhi. [Appellant] Vs. M/s Honeywell International (India) Pvt. Ltd., 4th floor, Zone-B, Nirlac House, B-25, Qutab Institutional Area, New Delhi....