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2016 (11) TMI 1499 - AT - Income TaxAllowability of deduction u/s 10A - Held that:- AO is directed to allow 10A deductions in respect of the export business without setting of the loss from the non export business. TPA - rejecting the foreign company as the tested party - Held that:- Having perused the relevant documents in order to verify as to whether the assessee has provided the necessary relevant information about the tested party and also the comparables to the tax administration to verify the same, we have verified the T.P. documentation filed by the assessee. We are satisfied that all the necessary information about the tested party and also the foreign comparables adopted by the assessee have not been provided by the assessee before the AO or the TPO to verify the same and for arriving at the ALP. Therefore, we are satisfied that the assessee has not done a proper TP study and therefore, the TPO has rightly rejected the foreign company as a tested party and the foreign comparables for arriving at the ALP Selection of comparable criteria - Held that:- Assessee is into the software development and providing call centre services exclusively to its AE, thus companies functionally dissimilar with that of assessee need to be deselctded from final list.
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