Supreme Court Upholds Assessee Bank in Tax Dispute Over Appreciation of Blocked Foreign Exchange. Appreciation in Value of Pakistani Rupee Remittances Due to Devaluation Held Capital Receipt, Not Revenue Under Section 10 of Indian Income-tax Act, 1922.
13 Oct 1966The litigation concerned the tax treatment of appreciation in the value of foreign exchange held by a bank abroad, which arose upon devaluation of the...




