Treatmeant OF Foreign Exchange

the rate of exchange is taken at  closing rate of the year ended

Dear Akhil foreign exchange loss/profit is capitalised according to Sch VI of Co Act According to Accountiing framework that has to be recognised as revenue expenditure as it is not providing any extra benefits. According to Sec 43A of I Tax it is to be added or subtracted from the cost of the assets.

sir but in this case  Co. Act or AS what shall be Prevail both are Oppesite Treatement of FE