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HomeDirect TaxCompensation Paid Towards Exchange Rate Fluctuation Loss Is Allowable Deduction: Madras High...

Compensation Paid Towards Exchange Rate Fluctuation Loss Is Allowable Deduction: Madras High Court 

Direct Tax

Published on

By Mariya Paliwala
madras high court

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The Madras High Court has held that compensation paid towards exchange rate fluctuation loss pursuant to commercial expediency is an allowable deduction, even if such compensation is not expressly provided for in the written contract. The Bench of Dr. Justice Anita Sumanth and Justice Mummineeni Sudheer Kumar allowed the Tax Case Appeal setting aside the…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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