Unrealised foreign exchange loss on a loan obtained for Asset purchases in India

By | May 20, 2017
(Last Updated On: May 20, 2017)

Unrealised foreign exchange loss, loan to purchase of assets in India

The Chennai Bench of the Income Tax Appellate Tribunal held that an unrealised foreign exchange loss on a loan obtained for the purpose of asset purchases was a “revenue loss” and therefore was allowable as deduction. The case is: Hyundai Motor India Ltd. Read a May 2017 report [PDF 322 KB] of KPMG

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