2013 (4) TMI 486 - BOMBAY HIGH COURT

Determination of Arms Length Price - Whether Tribunal was correct in holding that comparable selected by the TPO were not functionally comparable while determining ALP - Held that:- In the impugned order the Tribunal has in detail pointed out why the selected comparables are not proper and failure of the assessing officer to consider the objections of the assessee - In this view of the matter, we see no reason to entertain the Appeal.

Whether Tribunal was correct in allowing safe harbor margin of (+/-) to the assessee - Held that:- It becomes academic as if the eight comparables selected by the TPO are found not to be functionally comparable then the difference between the operating margin of the respondent at 15.05% as against the 18.97% of comparable companies being within the range of +/ - 5% the amounts received by the respondent - Assessee is within the statutory limits. Therefore, we see no reason to entertain this appeal - Revenue's appeal is dismissed with no order as to costs.