This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Sec 10A benefits cannot be denied on foreign exchange fluctuation gain linked to exports
Case Law Details
- Case Name
- Sanyo LSI Technology India Private Ltd. Vs. Deputy Commissioner of Income Tax (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2004- 05
- Courts
- All ITAT, ITAT Bangalore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Sanyo LSI Technology India Private Ltd Vs DCIT (ITAT Bangalore)– Gain from fluctuation of foreign exchange is directly related with the export activities and should be considered as income derived from export in the year in which the export took place for the purpose of deduction u/s 10A of the Act. The exchange value based on upward or downward of the rupee value is not in the hands of the assessee. The assessee does not determine the exchange value of the Indian rupee; that when the fluctuation in foreign exchange rate was solely relatable to the export business of the assessee and the...
