2018 (7) TMI 1687

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...., Adv. for Respondent - Assessee. J U D G M E N T S. SUJATHA, J This Appeal is filed by the Revenue purportedly raising substantial questions of law arising from the Order of the Income Tax Appellate Tribunal, Bangalore Bench 'C', Bangalore, in IT[TP]A No.81/Bang/2015 dated 29.05.2015, relating to the Assessment Year 2010-11. 2. The appeal has been admitted on 08.03.2016 to consider th....

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....s.1 & 2: "We are of the view that the stand taken by the Revenue is unsustainable. It is not disputed that the foreign exchange fluctuation and the resulting gain to the assessee was in respect of the sale proceeds which the assessee had to realize. In such circumstances, it cannot be contended by the Revenue that the nexus of the foreign exchange gain with the business activity of the tax paye....

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....interpretation of provisions of Double Taxation Avoidance Treaties (DTAA), interpretation of provisions of the Income Tax Act or Overriding Effect of the Treaties over the Domestic Legislations or the questions like Treaty Shopping, Base Erosion and Profit Shifting (BEPS), Transfer of Shares in Tax Havens (like in the case of Vodafone etc.), if based on relevant facts, such substantial questions o....

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....t and the same are liable to be dismissed. 57. We make it clear that the same yardsticks and parameters will have to be applied, even if such appeals are filed by the Assessees, because, there may be cases where the Tribunal giving its own reasons and findings has found certain comparables to be good comparables to arrive at an 'Arm's Length Price' in the case of the assessees with which the as....