https://www.taxtmi.com/caselaws?id=407459 The Tribunal ruled in favor of the assessee on various grounds, including the inclusion of foreign exchange fluctuation gains in operating income, exclusion of certain comparables due to functional dissimilarities, and treatment of devolvement of SBLCs as revenue loss. The Tribunal directed reexamination on certain issues, dismissed appeals where the assessee did not press grounds, and upheld decisions favoring the assessee on disallowances and adjustments. Emphasis was placed on commercial expediency and business purposes, resulting in favorable outcomes for the assessee in multiple aspects. en-us Fri, 05 Mar 2021 00:00:00 +0530 Tue, 11 May 2021 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407459 The Tribunal ruled in favor of the assessee on various grounds, including the inclusion of foreign exchange fluctuation gains in operating income, exclusion of certain comparables due to functional dissimilarities, and treatment of devolvement of SBLCs as revenue loss. The Tribunal directed reexamination on certain issues, dismissed appeals where the assessee did not press grounds, and upheld decisions favoring the assessee on disallowances and adjustments. Emphasis was placed on commercial expediency and business purposes, resulting in favorable outcomes for the assessee in multiple aspects. Case-Laws Income Tax Fri, 05 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407459