HC upheld exclusion of comparables due to lack of segmental data

PCIT Vs Global Logic India Limited (Delhi High Court) Introduction: The Delhi High Court, in the case of PCIT vs. Global Logic India Limited, addressed an appeal related to Assessment Year 2011-12. The appellant/revenue challenged the Tribunal’s order dated 30.10.2018, raising two primary issues – the categorization of foreign exchange gain/loss and the exclusion of comparables. Detailed Analysis: 1. Categorization of Foreign Exchange Gain/Loss: Mr. Ruchir Bhatia, the learned senior standing counsel, outlined the first issue regarding the treatment of foreign exchange gain/loss as op...