2019 (2) TMI 1380

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....C.A For the Respondent : Dr. Pradeep Kumar, Addl. CIT (DR, ITAT, Bengaluru) ORDER PER N.V. VASUDEVAN, VICE PRESIDENT This Misc. application filed by the assessee u/s 254(2) of the Income-tax Act, 1961 ('the Act') praying for rectification of the order dated 21/12/2108 of certain apparent errors. 2. The issue involved in the above appeal was with regard to determination of arms length price u/....

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....the one decided by the Tribunal vide order dated 21/12/1018 were not pressed. It is a plea of the assessee that the grounds with regard to treating foreign exchange gain as part of the operating profit while determining the PLI of the assessee was agitated. It is pointed out that case laws in support of the claim of the assessee was also filed before the Tribunal which are contained in page Nos.77....

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....omparables and in this regard, the assessee has even drawn attention of the Bench to decision of the Delhi High Court in the case of Pr. CIT Vs. Ameriprice India Pvt. Ltd., in ITA No.206/2016 dated 23/3/2016 and Pr. CIT Vs. S.T Ericsson India Ltd., In ITA No.821//2017 order dated 31/1/2018 this Tribunal has taken a view that foreign exchange gain or loss resulting from trading items has to be cons....