2018 (7) TMI 2311

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....ns of law arising from the Order of the Income Tax Appellate Tribunal, Bangalore Bench 'B', Bangalore, in IT [TP]A No.1662/Bang/2014 dated 12.08.2015, relating to the Assessment Year 2009-10. 2. This Appeal has been admitted on 20.09.2017 raising the following substantial questions of law as framed by the Revenue in the Memorandum of Appeal. "1. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in directing the assessing authority/TPO to include forex gain or loss to be part of operating income/loss without ascertaining the nexus with the business activity of the tax payers? 2. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in concluding that....

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.... 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 finding of the Tribunal is found ex facie perverse, the Appeal u/s. 260-A of the Act, is not maintainable. The relevant portion of the Judgment is quoted below for ready reference: "Conclusion: 55. A substantial quantum of international trade and transactions depends upon the fair and quick judicial dispensation in such cases. Had it been a case of substantial question of interpretation of provisions of Double Taxation Avoidance Treaties (DTAA), interp....