https://www.taxtmi.com/caselaws?id=267826 The Tribunal upheld the exclusion of certain companies from the comparables list for benchmarking international transactions due to mismatched financial years. It supported treating foreign exchange gain/loss as operating in nature, dismissing Revenue's contentions. The allocation of indirect costs based on man-hours was deemed appropriate over turnover ratio allocation, aligning with the assessee's method. The Tribunal's decisions favored the assessee, dismissing Revenue's grounds and the cross objection, ultimately leading to the dismissal of both the appeal and cross objection. en-us Wed, 30 Sep 2015 00:00:00 +0530 Mon, 16 Nov 2015 01:24:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267826 The Tribunal upheld the exclusion of certain companies from the comparables list for benchmarking international transactions due to mismatched financial years. It supported treating foreign exchange gain/loss as operating in nature, dismissing Revenue's contentions. The allocation of indirect costs based on man-hours was deemed appropriate over turnover ratio allocation, aligning with the assessee's method. The Tribunal's decisions favored the assessee, dismissing Revenue's grounds and the cross objection, ultimately leading to the dismissal of both the appeal and cross objection. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267826