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2016 (10) TMI 1267 - AT - Income TaxTP Adjustment - selection of comparable - functionally dissimilarity - HELD THAT:- A company engaged in investment banking activity cannot be compared to a company providing investment advisory services. We have further noted that the Tribunal, Delhi Bench, in Mckinsey Knowledge Centre India Pvt. Ltd. [2015 (3) TMI 1226 - DELHI HIGH COURT] has held that if a company is functionally similar, only because of its low turnover, it cannot be rejected if such turnover filter was not applied either by the assessee or by the Transfer Pricing Officer. Companies functionally dissimilar with that of assessee need to be deselected from final list.
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