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2016 (2) TMI 228 - AT - Income TaxTransfer pricing adjustment - comparability of Saket Projects Ltd. company - Held that:- We concur with the conclusion of the TPO that a comparable cannot be excluded on the grounds of high profitability alone as high profit can be a measure of efficiency in management. While so holding taking into consideration the consistent finding on record qua the said comparable for the specific assessment year in consideration namely 2008-09 assessment year, we find that the judicial precedent concluding that segmental details in the public domain for the said year were not reliable has not been rebutted by the Revenue. On facts where segmental details qua the segment are not reliable then on this fact alone even dehors the judicial precedent a comparable has to be excluded. In the absence of any rebuttal on facts to the contrary the judicial precedent relied upon has to be followed. We also find that the consistent finding of fact that the said comparable organized events on sponsorship and was having an entirely different Revenue generation model of offering space on rent and selling event fees etc. has also not been rebutted. This fact further makes the said comparable as functionally not comparable to Business Support Services. Accordingly in the absence of any rebuttal on these crucial factual aspects, we find that the limited prayer of the assessee has to be allowed. Thus, for the detailed reasons brought and herein above Saket Projects Ltd. is directed to excluded as a comparable in the year under consideration
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