https://www.taxtmi.com/caselaws?id=308045 The court ruled in favor of the assessee on all substantial questions of law, including the inclusion of foreign exchange fluctuation loss in operating income, exclusion of certain companies as comparables, allowability of market loss for SEZ units, and loss on forward contracts in Forex derivatives. The court clarified that Section 10A provides for a deduction of profits and gains from eligible undertakings. As a result, the appeal was dismissed in favor of the assessee and against the Revenue. en-us Fri, 01 Oct 2021 00:00:00 +0530 Thu, 25 May 2023 22:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308045 The court ruled in favor of the assessee on all substantial questions of law, including the inclusion of foreign exchange fluctuation loss in operating income, exclusion of certain companies as comparables, allowability of market loss for SEZ units, and loss on forward contracts in Forex derivatives. The court clarified that Section 10A provides for a deduction of profits and gains from eligible undertakings. As a result, the appeal was dismissed in favor of the assessee and against the Revenue. Case-Laws Income Tax Fri, 01 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308045