Business Expenditure — S. 42(1)
Last updated: 26 May 2009
Court :
Supreme Court
Brief :
Business Expenditure — S. 42(1) — Special provisions for prospecting for mineral oil — Production sharing contract accounts is an independent accounting regime — Foreign exchange losses on account of foreign currency transaction is allowable as a deduction.
Citation :
CIT v. Enron Oil and Gas India Ltd (2008) 305 ITR 75 (SC)
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CA.Tarun Maheshwari
Published in Income Tax
Views : 2439
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