https://www.taxtmi.com/caselaws?id=760270 Delhi HC upheld ITAT's decision that AMP expenditure incurred by the assessee does not constitute an International Transaction, following Sony Ericsson precedent. The court also ruled that foreign exchange gains/losses should be considered operating revenue/cost rather than non-operating items, as they directly resulted from trading activities under international transactions. The ITAT correctly determined that foreign exchange losses arising from trading items pursuant to service agreements with Associated Enterprises using cost-plus pricing methodology cannot be treated as non-operating costs. en-us Thu, 22 Aug 2024 00:00:00 +0530 Tue, 28 Apr 2026 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760270 Delhi HC upheld ITAT's decision that AMP expenditure incurred by the assessee does not constitute an International Transaction, following Sony Ericsson precedent. The court also ruled that foreign exchange gains/losses should be considered operating revenue/cost rather than non-operating items, as they directly resulted from trading activities under international transactions. The ITAT correctly determined that foreign exchange losses arising from trading items pursuant to service agreements with Associated Enterprises using cost-plus pricing methodology cannot be treated as non-operating costs. Case-Laws Income Tax Thu, 22 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760270