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2016 (5) TMI 252 - AT - Income TaxForeign exchange gain treated as non-operating income - Held that:- Foreign exchange gain pertaining to marketing commission segment should be considered as operating income. Selection of comparable - Held that:- In the present case, the authorities below having held that M/s Spinco’s operations are functionally different than the assessee, in our considered view, M/s Spinco cannot be taken as a comparable. When M/s Spinco ceases to be a comparable, the TPO should look for external comparables which he has rightly adopted some of the external comparables. Therefore, following the decision of the Ahmedabad Bench of the Tribunal in the case of Fortune Infotech Ltd.(2016 (2) TMI 382 - ITAT AHMEDABAD ), we restore the matter to the file of the TPO who shall consider the external comparables and determine the ALP by taking the segmental financials after providing adequate opportunity of being heard to the assessee.
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