American Express (India) Pvt. Ltd v.Dy .CIT ( 2017) 83 taxmann.com 345/ (2018) 196 TTJ 283 (Delhi)(Trib)

S.92C: Transfer pricing—Selection of comparables—Functionally different—IT enabled services- TNMM – Software developer could not be functionally comparable with a pure captive service provider – Foreign exchange gain or loss is part of operating expenditure/ income.

Tribunal directed to exclude,  functionally different.Software developer could not be functionally comparable with a pure captive service provider .Company engaged in provision of ITES services carrying on business through its own employees would not be comparable to a company which had outsourced a significant part of its operations. Foreign exchange gain or loss is part of operating expenditure/ income, (dt-7-06 2017) ( AY.2007 -08)