Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (9) TMI 1337 - AT - Income TaxTP Adjustment - comparable selection - HELD THAT:- There cannot be a pick and choose of comparables every year unless there are some material difference in facts and circumstances compelling to take a different conclusion. Company cannot be excluded from the comparable list merely for the reason of low turnover especially, when no turnover filter was applied by either party. Assessee is into investment advisory services, thus comparables selected should be functionally similar with that of assessee. We direct the TPO to benchmark the assessee margin with the final list of comparable companies by including ICRA Management Consulting Services Limited and Kinetic Trust Limited in the final list of comparable companies and if it is found that they are within the range of ±5% the entire adjustment should be deleted. Appeal of the assessee is allowed as indicated above.
|