Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Foreign Exchange Fluctuation Gains and Interest on EEFC Account Held Part of Business Income for Section 80HHC Deduction. The Court affirmed that receipts on account of foreign exchange fluctuation on EEFC Account and interest on EEFC Account are includible in business profits for computing deduction under Section 80HHC of the Income Tax Act, 1961.
22 Apr 2010The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (ITA...




