Notional foreign exchange gains or losses is to be taken into account in computation of income

 ITAT MUMBAI BENCH ‘I’ Mettler Toledo India (P.) Ltd. versus Income-tax Officer IT Appeal Nos. 2152, 2153 & 2574 (Mum.) of 2007 [ASSESSMENT YEARS 2002-03 & 2003-04] Date of Pronouncement- 28.09.2012 ORDER Rajendra Singh, Accountant Member These cross-appeals for the assessment year 2002-03 and appeal of the assessee for the assessment year 2003-04 are directed against different orders both dated January 15, 2007, of the Commissioner of Income-tax (Appeals) for the assessment years 2002-03 and 2003-04 respectively. These are being disposed of by a single co...