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2015 (11) TMI 1508 - AT - Income TaxTransfer pricing adjustment - working capital adjustments directed by the DRP - Held that:- Considering the grievance posed qua the working capital adjustments directed by the DRP, we are of the view that in the peculiar facts and circumstances of the case in the face of the above quoted speaking directions the TPO in judicial propriety had no occasion to ignore the directions of the higher forum and was bound to follow the directions issued by the DRP whatever his personal opinion may be. The issue accordingly is restored back to the TPO/AO with the direction to decide the issue in terms of the speaking direction of the DRP and pass a speaking order in accordance with law after giving the assessee a reasonable opportunity of being heard. Infosys Technology Ltd. as a comparable company has to be excluded from the list of comparables. Exclusion of Bodh Tree Consulting Ltd is warranted on facts
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