Wednesday, July 30, 2014

[aaykarbhavan] No reassessment by AO to disallow provision of exchange difference on repayment of loan on change of opinion



No reassessment by AO to disallow provision of exchange difference on repayment of loan on change of opinion

July 30, 2014[2014] 46 taxmann.com 376 (Gujarat)
IT: Reassessment beyond four years to tax exchange difference on Foreign Currency loan was unjustified in view of fact that required revelation for exchange difference on said loans were already mentioned in balance-sheet of assessee
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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