https://www.taxtmi.com/caselaws?id=375753 The Appellate Tribunal ITAT Bangalore allowed the miscellaneous application filed by the assessee under section 254(2) of the Income-tax Act, 1961. The Tribunal directed the Assessing Officer to treat the foreign exchange gain as part of the operating profit for determining the profit level indicator in the arms length price analysis under section 92 of the Act concerning international software development services transactions. The Tribunal rectified the order based on the assessee's argument and relevant case laws, ultimately favoring the assessee's position. en-us Fri, 22 Feb 2019 00:00:00 +0530 Sun, 24 Feb 2019 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375753 The Appellate Tribunal ITAT Bangalore allowed the miscellaneous application filed by the assessee under section 254(2) of the Income-tax Act, 1961. The Tribunal directed the Assessing Officer to treat the foreign exchange gain as part of the operating profit for determining the profit level indicator in the arms length price analysis under section 92 of the Act concerning international software development services transactions. The Tribunal rectified the order based on the assessee's argument and relevant case laws, ultimately favoring the assessee's position. Case-Laws Income Tax Fri, 22 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375753