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2015 (10) TMI 2653 - AT - Income TaxTPA - selection of comparable - Held that:- The assessee company is engaged in the manufacture of Printed Circuit Board Assembly which has application in the telecom, industrial electronics and consumer products segment. It also operated a shared services division for providing back office services relating to accounts payable processing and human resources record maintenance, thus companies functionally dissimilar with that of assessee need to be deselected from final list of comoarable. Deduction under section 10A computation - setting off losses - Held that:- Since the issue is covered in the case of ACIT, 12(3) v. Yokogawa India Ltd., (2011 (8) TMI 845 - Karnataka High Court ), we are of the view that the DRP has erred in upholding the AO’s reasoning in recomputing the relief u/s 10A and thereby computed the relief u/s. 10A at Nil as against the amount of ₹ 60,892,020 claimed by the assessee in its return of income. This ground of appeal is allowed.
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