Notional Liability On Account Of Change In Exchange Rates Could Not Be Allowed On Notional Basis

High Court of Uttaranchal

CIT vs Oil and Natural Gas Corpn. Ltd.

Citation –  301 ITR 415

Income-taxAppeals Nos. 89, 91, 92, 123 of 2003, 2 of 2004, 50 of 2005, 59, 60 and 63 of 2006

P.C. Verma and B.C. Kandpal, JJ

29 March 2007

JUDGMENT

1. These are the appeals un

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