also refer to the decision of the Special Bench of the ITAT in the ONGC where the following question was considered:
Whether on the facts ... loss on account of fluctuation in foreign currency rates is allowable. The ITAT explained its conclusion in the following manner:
After careful consideration it held
CBDT Circular No.621 dated 19.12.1991, in paras 32.10 and 32.11. The ITAT in International Research Park Laboratories v. ACIT ... been engaged in the export business.' This decision of the ITAT has been approved by the Hon'ble Supreme Court
dated 25 th May
2014 passed by the Income Tax Appellate Tribunal („ITAT‟) in ITA Nos.
779, 780and 781/Del/2013 relating to Assessment Years ... address in these appeals is the same
that was considered by the ITAT viz., 'Whether the additions made to the
income of the Respondent
order dated 13th May, 2016
passed by the Income Tax Appellate Tribunal („ITAT‟) in ITA Nos. 2409 to
2412/Del/12 and 2437 ... memoranda of appeals, and the
corresponding appeal numbers before the ITAT, the Court sets out in a
tabulated form all the appeal numbers
Jolly v. CIT [2001] 250 ITR 113 (Del), Karan and Co. v. ITAT [2002] 253 ITR 131 (Del), Shaw Wallace and Co. Ltd. v. ITAT ... filed.
10. The next important decision is Deeksha Suri v. ITAT . In the said case, the assesseds had moved an application under Rule
passed by the Income Tax Appellate Tribunal ('ITAT') in ITA Nos.
4924/Del/2011, 6580/Del/2013, 6382/Del/2012 and 3861 ... directed against the same impugned common order of the ITAT. The
seventh appeal, i.e., ITA No.950 of 2015, is by the Assessee
order dated 12th
December, 2014 passed by the Income Tax Appellate Tribunal (ITAT)
in ITA No.6023/Del/2012 for the Assessment Year ... expenses.
8. The appeal filed by the Assessee before the ITAT, being ITA No.
6023/Del/2012, was disposed of by the impugned order dated
dated 31st May, 2016
passed by the Income Tax Appellate Tribunal ('ITAT') in the appeals filed
by the Assessee for Assessment Years ... order dated 21 st March,
2017 reads as under:
"Did the ITAT fall into error in holding that the additions made
under Section
dated 29th April 2014 passed by the Income Tax Appellate Tribunal
('ITAT') in ITA Nos. 4545, 4246 and 4247/Del/2012 ... copy of the certified
copy of the impugned order of ITAT which bears different date stamps.
ITA Nos. 234, 235 & 236/2015 Page
dated 7th November 2016 passed by
the Income Tax Appellate Tribunal ('ITAT') in ITA No. 2895/Del/2015 for
the Assessment Year ... sought to be urged by the Revenue is whether the
ITAT erred in deleting the disallowance made by the Assessing Officer
