shall be converted into Indian currency ie., Indian
Rupee as under:
The conversion rate of US Dollars into Rupees
shall be the daily representative exchange ... Dollars shall be
converted into Rupees at the aforesaid rate. The
conversion rate of such currencies shall be the daily
representative exchange rates published
same reasons, U.K. dividends will be taken by adopting the conversion rate prevailing at the time of each receipt. The U.K. dividends will ... during the same period. When this is so, without anything more, the conversion must only be with reference to the date of actual receipt
section (a) of section 4 of the said Act for conversion into Indian currency of the foreign currency in which such foreign exchange is expressed ... Reserve Bank in pursuance of sub-section (2) of section 8 for conversion into Indian currency of the foreign currency in which such foreign exchange
equally well established that enhanced values obtained from realisation or conversion of securities may be so assessable, where what is done is not merely ... similar to those ensuing from the abandonment of the trade or its conversion into a different trade.
56. It should, therefore, follow that the endeavour
sale of the goods, a profit accrued to the appellants on the conversion of prepaid advances into sterling. It was held that the exchange profits
rule 115 of the Income-tax Rules, 1962, which provides for conversion of any income in foreign currency into Indian currency ... conversion of income in Indian currency into foreign currency for the purpose of computing the income or profit.
7. It is true, pursuant
holders of the Bonds of the respondent and upon
such conversion, the petitioner will cease to be the Trustee under
the "Trust Deed ... into Global
Deposit Receipts (GDR), each representing one share at an initial
conversion price of Rs.143.29 per share (at a fixed conversion
rate
then, which reads as follows :
"115. Rate of exchange for conversion into rupees of income expressed in foreign currency. - The rates of exchange
Selvi J.Jayalalitha vs State, By The Superintendent Of Police on 11 May, 2015
Author
Conversion rate) was paid to the petitioner towards the
aforesaid one time compensatory payment due to
reduction/diminishing of the value of the stock options
