http://ift.tt/eA8V8J
A division bench of the Allahabad High Court, in CIT v. Jaya Prakash Industries Pvt Ltd, held that the difference on foreign currency translation which is notional debit/credit, did not represent any loss or income for the purpose of computing the taxable income under the Income- Tax Act.
April 21, 2017 at 03:31PM
from CA Sandeep Kanoi
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