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TMI Blog2019 (2) TMI 1380X X X X Extracts X X X X X X X X Extracts X X X X ..... to its holding company - HELD THAT:- It is correct that the assessee had made submission on foreign exchange gain being part of the operating profit of the assessee for the purpose of determining the PLI of the assessee and the comparables and in this regard, the assessee has even drawn attention of the Bench to decision of the Delhi High Court in the case of Pr. CIT Vs. Ameriprice India Pvt. Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from trading items and therefore it should be regarded as part of the operating profit. We are of the view that the claim made by the assessee in this regard deserves to be accepted and AO is directed to treat the foreign exchange gain as part of the operating profit and compute the PLI of the assessee accordingly". - M.P No.10/Bang/2019 (In IT(TP)A No.216/Bang/2017) - - - Dated:- 22-2-2019 - S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . application that the Tribunal did not adjudicate ground 4.1(g) in the grounds of appeal filed on 11/12/2017 and re-numbered as ground 3.1(g) of the ground of appeals filed on 11/5/2018. The above ground relates to treatment of foreign exchange gain as farming part of the operating profit of the assessee for the purpose of determining the profit level indicator of the assessee. In this misc. appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Vs. K.M Sugar Mills Pvt. Ltd., 275 IR 247 (All). 3. The ld counsel for the assessee reiterated the facts as contained in misc. application prayed for rectification of the order. 4. The ld DR relied on the order of the Tribunal. 5. We have given a careful consideration to the rival submissions and contentions in the misc. petition and the record. It is correct that the assessee had made s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arned by the assessee is concerned, the same should be treated as part of the operating profit or not has already been decided by the Hon ble Delhi High Court in the case of Prl.CIT Vs. S.T.Ericsson India Ltd. (supra) and Ameriprice India Pvt. Ltd., (Supra).It is the plea of the assessee that foreign exchange gain arose from trading items and therefore it should be regarded as part of the operatin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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