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2017 (5) TMI 1728 - AT - Income TaxTP Adjustment - Comparable selection - Kals Information Systems Ltd. - HELD THAT:- Once inventory was there, it cannot be said that Kals Information Systems Ltd., was not having any revenue from products. DR has submitted that the principal items do not contain any item code number. This information is only with reference to principal products and not with reference to the entire spectrum of products/services dealt by the company. Consistent with the decisions relied upon by the assessee, we direct for the exclusion of company. Denial of working capital adjustment - The reason for denial is that the assessee had not submitted the details as has been observed by ld. TPO in para 7.1 of his order. Assessee had made submissions in this regard before the ld. DRP in regard to all the four comparables selected by ld. DRP. We, therefore, restore this issue to the file of ld. TPO to consider the information furnished by the assessee in regard to its claim for working capital adjustment. Assessee appeal allowed for statistical purposes.
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