https://www.taxtmi.com/caselaws?id=403973 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals) decision regarding the treatment of forex gain from Software Development Services as operating income for Assessment Year 2010-11. The Tribunal dismissed the Revenue's appeal challenging this treatment, stating that foreign exchange gains related to international transactions should be considered as operating income. Additionally, the Tribunal dismissed the Revenue's objection to the admission of additional evidence due to lack of specific details provided during the proceedings. The Tribunal also dismissed the Cross Objection filed by the assessee. en-us Mon, 08 Feb 2021 00:00:00 +0530 Fri, 12 Feb 2021 12:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403973 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals) decision regarding the treatment of forex gain from Software Development Services as operating income for Assessment Year 2010-11. The Tribunal dismissed the Revenue's appeal challenging this treatment, stating that foreign exchange gains related to international transactions should be considered as operating income. Additionally, the Tribunal dismissed the Revenue's objection to the admission of additional evidence due to lack of specific details provided during the proceedings. The Tribunal also dismissed the Cross Objection filed by the assessee. Case-Laws Income Tax Mon, 08 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403973