Treatment of Exchange Flucutation on Fixed assets

As per Companies act, the ECF to be added/Substracted from the asset value.

As per As11, it need to be charged off to P/L Account immediately.

There is a big controversy between these two. However, Companies Act always gets priority over AS.

 Loan taken for purchase of fixed assets , exchange fluctuation need to be charged to P&l account as Government adopted AS11 in AS rules 2006.

What's the treatment as per IT Act, 1961....

 Refer sec 43(A)