Case Law Details
Case Name : Continuum Wind Energe (India) Pvt. Ltd. Vs DCIT (Madras High Court)
Related Assessment Year : 2013-14
Courts :
All High Courts Madras High Court
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Continuum Wind Energe (India) Pvt. Ltd. Vs DCIT (Madras High Court)
Conclusion: Amount paid towards the premium for hedging foreign exchange fluctuations was capital loss as exchange difference was required to be capitalized because liability had been incurred by assessee for the purpose of acquiring fixed asset namely plant and machinery.
Held: Assessee had file an appeal challenging the dis allowance of the premium paid on forward contract on reasoning
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