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PR. COMMISSIONER OF INCOME TAX DELHI-I Versus AMERIPRISE INDIA PVT. LTD.

2016 (3) TMI 1272 - DELHI HIGH COURT

Foreign exchange gain/loss - whether to be considered as an item of operating revenue/cost - Held that:- ITAT has in the impugned order noted the fact that the foreign exchange gain earned by the Assessee is in relation to the trading items emanating .....

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Associated Enterprise (AE) and the Assessee stated that for the specified products and services provided by the Assessee, it "shall raise invoices on Ameriprise USA on the basis of a cost plus pricing methodology." The ITAT was therefore right in ho .....

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shmi Gurung, Junior Standing Counsel. For The Respondent : Deepak Chopra and Mr Harpreet Singh Ajmani and Mr Rohan Khare, Advocates ORDER CM No.10985/2016 1. For the reasons stated therein, the delay in re-filing the appeal is condoned. The applicati .....

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ght to be urged by the Revenue is whether the ITAT was correct in directing the foreign exchange gain/loss to be considered as an item of operating revenue/cost? 4. The ITAT has in the impugned order noted the fact that the foreign exchange gain earn .....

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