2017 (12) TMI 1793

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....nt Member For the Appellant : Shri Chavali Narayan, CA For the Respondent : Smt. Padma Meenakshi, JCIT (DR) ORDER Per Shri A.K. Garodia, Accountant Member This MP is filed by the assessee contending that there are certain mistakes in the impugned Tribunal order dated 28.07.2017. 2. In the MP, this is the contention raised that as per ground no. 7 of the appeal of the assessee, th....

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....re us, the same contentions were reiterated by ld. AR of assessee. The ld. DR of revenue submitted that there is no apparent mistake in the impugned Tribunal order. 4. We have considered the rival submissions. We find that at the time of hearing of the appeal, the ld. AR of assessee has filed a chart and the appeal was heard on the basis of chart. In the said chart, the contentions are raised r....

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.... is an apparent mistake in the impugned Tribunal order. Hence we decide this aspect as per ground no. 9 raised before the Tribunal. We find that the details regarding foreign exchange gain / loss is not available on record as to whether the gain / loss is in respect of turnover of the present year or it is in respect of the turnover of an earlier year. In respect of computation of ALP, profit marg....

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....red as profit/loss of the current year for working out the profit percentage of the tested party but if such foreign exchange gain / loss is not in respect of current year turnover then the same should not be considered in the case of tested party. Similarly, in the case of comparable companies also, if there is any foreign exchange gain / loss and this information is available in the annual repor....