2018 (7) TMI 2311

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.... : Sri E.I. Sanmathi, Adv. For the Respondent : Ms. Sujatha D., Adv. For Mr. Mallaharao K., Adv. JUDGMENT Mr. E.I. Sanmathi, Adv. for Appellants - Revenue. Ms. Sujatha D., for Mr. Mallaharao. K., Adv. for Respondent - Assessee. 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 'B', ....

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.... 3. The learned Tribunal, after discussing the rival contentions of both the Appellants-Revenue and Respondent-Assessee, has returned a finding as under: "4.3 We have heard the rival contentions and perused and carefully considered the material on record; including the judicial decisions cited and placed reliance upon. We observe that it has not been disputed that the foreign exchange gain/los....

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.... by including the foreign exchange gain/loss. Consequently, the grounds at S. Nos. 2 to 4 raised by revenue are dismissed." 4. The controversy involved herein is no more res integra in view of the decision of this Court in I.T.A. Nos.536/2015 c/w 537/2015 dated 25.06.2018 [Prl. Commissioner of Income Tax & Anr. V/s. M/s.Softbrands India Pvt. Ltd.,] wherein it has been observed that unless the fi....

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....before the High Court under Section 260-A of the Act, the Courts could have embarked upon such exercise of framing and answering such substantial question of law. On the other hand, the appeals of the present tenor as to whether the comparables have been rightly picked up or not, Filters for arriving at the correct list of comparables have been rightly applied or not, do not in our considered opin....