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2016 (3) TMI 1200 - AT - Income TaxTPA - comparables selection - Held that:- Companies being a product based companies may not strictly comparable to a service company like that of Assessee. Companies dissimilar in functionality with that of assessee need to de-selected from final list of comparable. Deduction (+) or (-) 5% as a standard deduction - Held that:- The second proviso to Section 92C(2) does not apply to the impugned order. The pre-amended proviso, as interpreted by various authorities does permit standard deduction of (+) or (-) 5% to Assessee. The order of Ld.CIT(A) is confirmed. The Revenue’s ground is rejected accordingly. Exclusion of certain expenditure from total turnover which are excluded from export turnover by AO - Held that:- Expenditures were excluded from export turnover stating to be for telecommunication and for rendering services. Assessee while contending that the said expenditure should not be excluded, made alternative contention that the same are to be excluded from total turnover. Following the Co-ordinate Bench decision in Tata Elxsi case [2011 (8) TMI 782 - KARNATAKA HIGH COURT ], the Ld.CIT(A) directed the same to be excluded from total turnover as well. Therefore, we uphold the same and reject Revenue’s grounds.
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