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TMI Blog2017 (12) TMI 1793X X X X Extracts X X X X X X X X Extracts X X X X ..... t was made in respect of this aspect. ALP Computation - Foreign Exchange fluctuation gain / loss - HELD THAT:- In respect of computation of ALP, profit margin percentage is worked out by dividing the operating profit of the tested party by the turnover of the tested party and therefore, if the foreign exchange gain/loss is not in respect of turnover of the present year, then such gain/loss cannot be considered for computing the profit percentage even after holding the same as operating profit/loss because if the corresponding turnover is not a part of the denominator, the profit in respect of such turnover cannot be included in the numerator because if this is done, it will give an absurd result. Hence we feel it proper to restore b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - - Dated:- 15-12-2017 - Shri Sunil Kumar Yadav, Judicial Member And Shri Arun Kumar Garodia, Accountant Member For the Appellant : Shri Chavali Narayan, CA For the Respondent : Smt. Padma Meenakshi, JCIT (DR) ORDER Per Shri A.K. Garodia, Accountant Member This MP is filed by the assessee contending that there are certain mistakes in the impugned Tribunal order dated 28.07.2017. 2. In the MP, this is the contention raised that as per ground no. 7 of the appeal of the assessee, this was the contention of the assessee that the AO / TPO have erred by accepting certain additional comparable companies by conducting a fresh independent search during TP assessment proceedings which are functionally dissimilar. This ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctuation gain / loss, in the chart, several judgements are cited by ld. AR of assessee but in the impugned Tribunal order although ground no. 9 is reproduced by the Tribunal on page no. 4 of the Tribunal order, there is no decision on this aspect and therefore, this is an apparent mistake in the impugned Tribunal order. Hence we decide this aspect as per ground no. 9 raised before the Tribunal. We find that the details regarding foreign exchange gain / loss is not available on record as to whether the gain / loss is in respect of turnover of the present year or it is in respect of the turnover of an earlier year. In respect of computation of ALP, profit margin percentage is worked out by dividing the operating profit of the tested party by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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