COMMISSIONER OF INCOME TAX Vs. EICHER GOODEARTH LTD

JUDGEMENT

(1.) HEARD .

(2.) ADMIT .

(3.) INSOFAR as, the first question proposed by the Revenue is concerned, we find that the Tribunal has decided the issue in favour of the assessee by placing reliance on its earlier order in respect of asst. yr. 1989-90 and further the fact that in respect of asst. yrs. 1986-87 and 1990-91 loss on account of foreign exchange fluctuation had been allowed by the AO himself. The Tribunal has also found as a fact that there has been no change in the circumstances in the present assessment year.