https://www.taxtmi.com/caselaws?id=293493 The Tribunal partly allowed the Miscellaneous Petition, finding no apparent mistakes regarding the acceptance of additional comparable companies but remanding the issue of treating foreign exchange gain/loss for fresh consideration by the AO/TPO. The Tribunal emphasized the importance of aligning the gain/loss with the turnover of the relevant year for profit percentage computation. The matter was sent back for a reevaluation, with directions to provide the assessee with a reasonable opportunity to present their case. Ground no. 9 of the appeal was allowed for statistical purposes. en-us Fri, 15 Dec 2017 00:00:00 +0530 Fri, 12 Feb 2021 23:12:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293493 The Tribunal partly allowed the Miscellaneous Petition, finding no apparent mistakes regarding the acceptance of additional comparable companies but remanding the issue of treating foreign exchange gain/loss for fresh consideration by the AO/TPO. The Tribunal emphasized the importance of aligning the gain/loss with the turnover of the relevant year for profit percentage computation. The matter was sent back for a reevaluation, with directions to provide the assessee with a reasonable opportunity to present their case. Ground no. 9 of the appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293493