![Claim of Loss on Exchange Fluctuation in Current Assets and Liabilities allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Claim-of-loss-exchange-fluctuation-current-assets-liabilities-ITAT-Taxscan.jpeg "Claim of Loss on Exchange Fluctuation in Current Assets and Liabilities allowable: ITAT [Read Order]")
Claim of Loss on Exchange Fluctuation in Current Assets and Liabilities allowable: ITAT [Read Order]
The Income Tax Appellate Tribunal, Ahmedabad bench held that the claim of loss on exchange fluctuation in current assets and liabilities is...
![Loss arising out of Foreign Currency Term Loan as Capital Loss, Depreciation allowed on Cost of Asset including Forex: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/foreign-currency-capital-loss-depreciation-asset-forex-ITAT-Taxscan.jpeg "Loss arising out of Foreign Currency Term Loan as Capital Loss, Depreciation allowed on Cost of Asset including Forex: ITAT [Read Order]")
![Foreign Exchange Derivative Losses can be allowed for Deduction as it is Notional Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Foreign-exchange-derivative-losses-deduction-notional-loss-ITAT-Taxscan.jpeg "Foreign Exchange Derivative Losses can be allowed for Deduction as it is Notional Loss: ITAT [Read Order]")
![No evidence of Payment in Foreign Currency to Foreign Personnel: CESTAT deletes Order imposing Service Tax under RCM [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/foreign-currency-CESTAT-Service-Tax-RCM-taxscan.jpg "No evidence of Payment in Foreign Currency to Foreign Personnel: CESTAT deletes Order imposing Service Tax under RCM [Read Order]")
Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while granting the relief to Lifestyle International ruled that the Foreign Currency is not a ‘commodity’ to invoke provisions relating to...
![Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Foreign-Currency-commodity-Speculative-Transactions-ITAT-Lifestyle-International-Taxscan.jpeg "Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]")
![18% GST on Commission Income from Japan in Foreign Currency on Selling of Machinery: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/GST-on-commission-income-from-Japan-foreign-currency-Selling-of-machinery-AAR-Taxscan.jpg "18% GST on Commission Income from Japan in Foreign Currency on Selling of Machinery: AAR [Read Order]")
Bonafide Export of Foreign Currency without Permission of RBI: CESTAT releases confiscated Currency imposing Fine [Read Order]
The Customs, Excises, Service Taxes Appellate Tribunal (CESTAT), Ahmedabad Bench while releasing confiscated Currency by imposing Fine held that the bonafide export of foreign currency was without...
![Bonafide Export of Foreign Currency without Permission of RBI: CESTAT releases confiscated Currency imposing Fine [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/Bonafide-Export-of-Foreign-Currency-RBI-CESTAT-confiscated-Currency-Fine-Taxscan.jpg "Bonafide Export of Foreign Currency without Permission of RBI: CESTAT releases confiscated Currency imposing Fine [Read Order]")
![RBI now empowered to restrict Export or Import of Currency [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/12/RBI-import-of-currency-Foreign-Currency-Taxscan.jpg "RBI now empowered to restrict Export or Import of Currency [Read Notification]")
![CBDT issues clarification on TDS from Salaries during FY 2020-21 [Read Circular]](https://www.taxscan.in/wp-content/uploads/2020/12/CBDT-TDS-Salaries-FY-2020-21-Taxscan.jpg "CBDT issues clarification on TDS from Salaries during FY 2020-21 [Read Circular]")
Developers now entitled to drawback claims if supplies from Domestic Tariff Area to foreign suppliers are in foreign currency: Central Govt. [Read Notification]
The Central Government notified the Special Economic Zones (Amendment) Rules, 2020 so as to amend the Special Economic Zones Rules, 2006. With the coming up of this notification, the Developers...
![Developers now entitled to drawback claims if supplies from Domestic Tariff Area to foreign suppliers are in foreign currency: Central Govt. [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/11/Domestic-Tariff-Area-foreign-suppliers-foreign-currency-Central-Government-Taxscan.jpg "Developers now entitled to drawback claims if supplies from Domestic Tariff Area to foreign suppliers are in foreign currency: Central Govt. [Read Notification]")
Brokerage received by Reinsurance Broker in Indian Rupees treated as receipts for Export in Foreign Currency, No Service Tax applicable: CESTAT [Read Order]
The Customs, Excises, Service Taxes Appellate Tribunal (CESTAT) in the light of the decision of the High Court of Madras has decided that the amounts which have been retained as a brokerage in Indian...
![Brokerage received by Reinsurance Broker in Indian Rupees treated as receipts for Export in Foreign Currency, No Service Tax applicable: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/04/WhatsApp-Image-2020-04-16-at-12.12.16-PM.jpeg "Brokerage received by Reinsurance Broker in Indian Rupees treated as receipts for Export in Foreign Currency, No Service Tax applicable: CESTAT [Read Order]")