https://www.taxtmi.com/caselaws?id=236798 The Tribunal partially allowed the appellant's appeal, directing the Transfer Pricing Officer to reassess the Transfer Pricing adjustments and accepting the foreign exchange fluctuation loss as a deductible expense. The Tribunal found merit in the appellant's arguments regarding the inclusion and exclusion of comparable companies in the Transfer Pricing analysis and held that the loss incurred from foreign exchange forward contracts was allowable under the mercantile system of accounting and applicable accounting standards. en-us Fri, 08 Mar 2013 00:00:00 +0530 Fri, 07 Aug 2026 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236798 The Tribunal partially allowed the appellant's appeal, directing the Transfer Pricing Officer to reassess the Transfer Pricing adjustments and accepting the foreign exchange fluctuation loss as a deductible expense. The Tribunal found merit in the appellant's arguments regarding the inclusion and exclusion of comparable companies in the Transfer Pricing analysis and held that the loss incurred from foreign exchange forward contracts was allowable under the mercantile system of accounting and applicable accounting standards. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236798