TMI Blog2018 (7) TMI 1687X X X X Extracts X X X X X X X X Extracts X X X X ..... payer? - Held that:- The controversy involved herein is no more res integra in view of the decision in PR. COMMISSIONER OF INCOME TAX AND ASSISTANT COMMISSIONER OF INCOME TAX VERSUS M/S. SOFTBRANDS INDIA P. LTD. [2018 (6) TMI 1327 - KARNATAKA HIGH COURT] 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 mainta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TNMM [transactional net margin method] method with ascertaining the nexus between such gain and the business activity of the tax payer? 2. Whether the Tribunal was correct in upholding the directions of the dispute resolution panel u/s.144C[5] to TPO to include forex gain/loss as operating in nature without ascertaining the nexus with the business activity of the tax payer? 3. The learne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 opinion, give rise to any substantial question of law. 56. We are therefore of the considered opinion that the present appeals filed by the Revenue do not give rise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not at all a sufficient reason to invoke Section 260-A of the Act before this Court. 58. The appeals filed by the Revenue are therefore dismissed with no order as to costs. 5. In the circumstances, having heard the learned Counsel appearing for both the sides, we are of the considered opinion that no substantial question of law arises for consideration in the present case. 6. Hence, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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