Section 43A specifies that additional amount paid due to fluctuation is capital expenditure

ACIT Vs Tamilnadu Newsprint and Papers Ltd (ITAT Chennai)

ITAT Chennai Held that the provisions of section 43A of the Act specifically provides that the amount of increase or decrease in the liability due to fluctuation in exchange rate should be adjusted against the actual cost of the capital expenditure or the cost of acquisition of capital asset.

Facts- The assessee filed its return of income for the relevant assessment year 2009-10 on 29.09.2009 and assessment was completed u/s.143(3) of the Act b

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