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2017 (4) TMI 1508 - AT - Income TaxTP Adjustment - Comparable selection - turnover filter - turnover range for selection of comparable - HELD THAT:- ITAT in the McAfee ruling [2016 (3) TMI 1200 - ITAT BANGALORE] held that a range of upper limit at ten times and lower limit of ten times i.e., one tenth can be adopted - there could margin of variations but these broad parameters could be adopted on uniform basis. In the assessee’s case, its turnover is 38.07 crores. Therefore, following McAfee ruling, the turnover range that could be taken in the comparables should be 3.8 crores to 380 crores. Therefore, any company not falling within the said range should be excluded on turnover filter. L & T Infotech Ltd, Persistent Systems Ltd AND Mindtree Ltd are directed to be excluded from the list of comparables following above ruling. - Decided in favour of assessee.
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