Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 1817 - AT - Income TaxTP Adjustment - comparable selection - Not including IDC (India) Ltd., Informed Technologies India Ltd., Pipal Research Analytics & Information Services India Pvt. Ltd., and ICRA Management Consulting Services Ltd., as comparable companies for the purpose of benchmarking the international transactions carried out by the assessee - DRP justification in including the Ladderup Corporate Advisory Pvt. Ltd. as comparable - HELD THAT:- Ladderup Corporate Advisory Pvt. Ltd., cannot be treated as a comparable to the assessee as this company cannot be a comparable to a company engaged in the activity of investment advisory services. IDC (India) Ltd. is engaged in providing non–binding investment advisory services akin to the assessee for the very same assessment year, thus is a good comparable. ICRA Management Consulting Services Ltd egarding difference in skill set held that ICRA Management Consultancy Services is a valid comparable to a company providing non– binding investment advisory services. It is also relevant to note, in assessee’s own case for assessment year 2009–10, this company has been accepted as a comparable by the DRP. Even otherwise also, the observations of the Transfer Pricing Officer on difference in skill set between the assessee and the comparable company appears to be not on the basis of proper analysis of fact and more on assumption and presumption. As regards other functional differences of this comparable pointed by the learned Departmental Representative, it needs to be mentioned, neither Transfer Pricing Officer nor DRP have deliberated on those aspects. Since these issues raised by the learned Departmental Representative are completely new issues and never raised at any stage earlier, we do not consider it appropriate to deal with them as it requires verification of fresh facts - we direct the Assessing Officer to accept this company as a comparable.
|