Unrealized loss due to foreign fluctuation debited to P&L A/c allowable

Pr. CIT Vs Suzlon Energy Limited (Gujarat High Court)

Where assessee had debited unrealized loss due to foreign exchange fluctuation in foreign currency transaction on revenue items to its profit and loss account on the last date of accounting year, the same should be allowed as deduction under Please become a Premium member. If you are already a Premium member, login here to access the full content.