https://www.taxtmi.com/caselaws?id=196542 The delay in re-filing the appeal was condoned, and the main issue centered on whether foreign exchange gain/loss should be treated as operating revenue/cost. The ITAT ruled in favor of the Assessee, emphasizing the trading nature of the foreign exchange gain/loss and the cost plus pricing approach in the service agreement with the Associated Enterprise. With an Advance Pricing Agreement in place for subsequent years, the Court found no substantial question of law and dismissed the appeal based on the judgment's reasoning. en-us Wed, 23 Mar 2016 00:00:00 +0530 Tue, 05 Dec 2017 22:03:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196542 The delay in re-filing the appeal was condoned, and the main issue centered on whether foreign exchange gain/loss should be treated as operating revenue/cost. The ITAT ruled in favor of the Assessee, emphasizing the trading nature of the foreign exchange gain/loss and the cost plus pricing approach in the service agreement with the Associated Enterprise. With an Advance Pricing Agreement in place for subsequent years, the Court found no substantial question of law and dismissed the appeal based on the judgment's reasoning. Case-Laws Income Tax Wed, 23 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196542