Foreign Exchange Fluctuations – Is it Capital Loss/Gain? By Anand Gupta TaxGuru

Foreign Exchange Fluctuations – Is it Capital Loss/Gain? Whether foreign exchange gain will be considered as Capital gain in case business of company has not commenced. Section involved – Charging Section 4, Section 28(i) and Section 263 of the Income Tax Act,1961 QUESTION:- Assessee-company was constituted as a special purpose vehicle to carry out foundational tasks for setting up a coal based power […]

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