The ITAT ruled in favour of the taxpayer, saying gains due to currency fluctuation should not be taxed
Sometimes, taxpayers can land in a unique situation. They could make some monetary gains that are not specified under income tax laws. In such cases, the taxation depends on the interpretation of the provisions under the I-T Act. One prevalent example of this is how bitcoins generated during the “mining" process will be taxed. There are different views on this as it is not covered under tax laws.