Court :
Brief :
The assessee obtained orders from foreign buyers with advance payment to be adjusted against supplies to be made. The assessee had to supply in future more quantities than what was originally agreed due to rupee devaluation.
The assessee treated this excess quantity to be supplied as a trading loss.
Citation :
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Aggarwal Sarawagi and Co
New Delhi
CA
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T R SOOD & CO
New Delhi
CA Inter
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CAclubindia
