Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2016 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (5) TMI 1434 - HC - Income TaxTPA - comparable selection revenue urges that some of the comparables were wrongly rejected and some comparables suggested by the Assessee wrongly accepted by the ITAT - Held that:- ITAT has given detailed reasons. The Revenue is unable to demonstrate that the said reasons qua any of the comparables or the conclusion of the ITAT thereon is perverse. The Court does not find the said issue giving rise to any substantial question of law. Foreign exchange fluctuation loss being considered as part of the operative expenses, the issue stands covered against the Revenue and in favour of the Assessee by the decision of the Supreme Court in Commissioner of Income-tax v. Woodward Governor India (P) Ltd. (2009 (4) TMI 4 - SUPREME COURT ). Rate of interest for capital adjustment is covered against the Revenue and in favour of the Assessee in terms of the decision of this Court in Cotton Natural (P) Ltd. v. CIT (2015 (3) TMI 1031 - DELHI HIGH COURT). No substantial question of law arises
|