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2016 (7) TMI 1318 - AT - Income TaxTPA - selection of comparable - Held that:- The assessee has been operating in India through a Branch office and is in the business of development of computer software. The software developed by the branch office in India is integrated with software developed by the parent entity, thus companies functinally dissimilar with that of assessee need to excluded from final list of comparability. Risk adjustment - Held that:- It would be appropriate in the peculiar facts and circumstances restore the issue back to the TPO. While so restoring it is made clear that the onus for providing the relevant data warranting risk and capital adjustments if any in the comparables has to be provided by the assessee. The TPO thereafter considering the same shall pass a speaking order in accordance with law giving the assessee a reasonable opportunity of being heard in case any adverse conclusions are sought to be drawn.
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