Foreign Exchange fluctuation gain / loss should be treated as operating in profit margin computation

Global E-Business Operations Pvt. Ltd. Vs ACIT (ITAT Bangalore)

Conclusion: Foreign exchange fluctuation gain/loss should be treated as operating profit/loss in nature while computing the profit margin of the assessee as well as of the comparable companies.

Held: Assessee was a company belonging to M/s. HP group. It was engaged in ITES services. It undertook HP’s worldwide accounting and transaction processing work, provision of back office operation and

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