Forex Gains from Trading Transactions Count as Operating Income in TP Adjustment

Vodafone Global Services Private Limited Vs ACIT (ITAT Pune) Foreign Exchange Gains linked to trading transactions formed part of operating income in Transfer Pricing Adjustment Conclusion: Since the gain was from trade receivables with the Associated Enterprise and foreign exchange gains linked to trading transactions form part of operating profits therefore, assessee was allowed to include foreign exchange gains as operating income in its transfer pricing adjustment. Held: Assessee,was engaged in providing telecommunication networking services, including network design, project management, a...