Enkay Centre
UdyogVihar, Phase C
Gurgaon-122016
Associated Forex Services Ltd.
C-37, Mezzane Floor
Atma Ram House
Connaught Place
New Delhi-110001 ........Opposite Parties ... short the OP-1) is doing the business of selling travellerscheques.Associated Forex Services Ltd. (OP-2) is one of the agents
assessee's earning from Associated Enterprises
came to 88% of its total earning and its receivables from Associated
Enterprise had gone up from ... assessee's revenue were from Associated Enterprises and the
debtors were only Associated Enterprises. Thus, according to him,
the directions given
Taxes, as this Instruction is issued with respect to
assessees trading in forex-derivatives. Also, the Instruction is
issued after the year under consideration. Thus ... exchange contracts with the
bankers to mitigate the risks associated with foreign exchange fluctuations
associated with the accounts receivable and forecasted sales transactions. Any
premium
ITAT, Mumbai in the case of Kotak Forex Brokerage Ltd Vs.
ACIT, Range 3(2), Mumbai (2009) 33 SOT 237 has held as under ... person/company/business-house over a period of
time and customers associate themselves with such assets - Held, yes - Whether in
view of above position goodwill
exchange loss or gain, amortisation
expenses of pre-operative and preliminary expenses, forex losses, bad
debts written off and fixed assets written off etc from ... certain costs such as amortisation expenses of pre-operative and
preliminary expenses, forex losses, bad debts written off and fixed assets written
off etc from
providing software
development services and coding of embedded software to its Associated
Enterprise (AE), Genesis Microchip Inc. US. During the impugned financial
year ... Operating Profit 6,04,07,239
Operating profit to Expenses 14.74%
* Excluding Forex Loss from Operating Cost
9. The TPO has made adjustment in both
direction of the
DRP who had directed the TPO to exclude the forex loss from the
computation of operating cost of the assessee ... drawn in regard to transactions made by the
assessee with its Associated Enterprises (AE) and transactions between the
-16- ITA 2560/Mds/16
business entities
accounts in Kotak Mahendra Bank
C/A - Rs.44,76,000/- and Forex Benefit of ECB loan Rs.10,38,287/-.
Prima-facie, we find ... seem to be the ones relating
to the international transaction involving the Associated Enterprises of
the assessee. Therefore, we find it relevant to remit this
have they gone? It is one month over, now. The fishermen community Associations are saying that usually for compensation, if a fisherman dies, after seven ... through fishing, India is getting nearly about Rs. 46,000 crore of forex.
HON. SPEAKER: Please do not mix up the two different issues
M/S. New Delhi Television Ltd., New ... vs Dcit, New Delhi on 14 July, 2017
