Pr. Commissioner of Income-tax v. B.C. Management Services Private Limited
[Citation -2017-LL-1205-9]
| Citation | 2017-LL-1205-9 |
|---|---|
| Appellant Name | Pr. Commissioner of Income-tax |
| Respondent Name | B.C. Management Services Private Limited |
| Court | HIGH COURT OF DELHI AT NEW DELHI |
| Relevant Act | Income-tax |
| Date of Order | 05/12/2017 |
| Judgment | View Judgment |
| Keyword Tags | foreign exchange gain • notional interest • operating income • transfer pricing • alp |
| Bot Summary: | The Revenue in its appeal in AY 2013 urges the following questions of law:- 1. Whether the exclusion of four comparables i.e. e- Clerx Pvt. Ltd., M/s ICRA Techno Analytics Ltd., M/s TCS E-Serve Ltd. and M/s Accentia Technologies Pvt. Ltd., are sustainable and not erroneous 2. Whether the findings of the ITAT with respect to foreign exchange gain and the manner of its treatment as part of Operating Income for ALP determination, is correct and is justified 3. Whether the exclusion of the Transfer Pricing adjustment made by the TPO, added notional interest on delay in receipt of payment of Associated Enterprises was justified ITA 1117/2017 Page 1 2. This Court notices that identical questions were urged for AY 2011-2012, by the Revenue in Pr. Commissioner of Income Tax vs. B.C. Management Services Pvt. Ltd. decided on 28.11.2017, when those appeals were dismissed; the exclusion of the comparables and revenue in respect of foreign exchange gain and on the issue of notional interest the arguments of the Revenue were rejected. No substantial question of law arises in this appeal as well for those reasons. |