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2020 (9) TMI 1281 - AT - Income TaxTP Adjustment - comparable selection - characterisation of the assessee as a KPO/high-end ITeS service provider - HELD THAT:- We hold that the authorities were not correct in re characterisation of the assessee as KPO/high-end ITeS service provider instead of provider of nonbinding investment advisory services and related support services. We also hold that following comparables should be included for the analysis - Almondz Global Securities Ltd., Crisil Risk & Infrastructure Solutions Ltd., ICRA Management Consulting Services Ltd. We also hold that Eclerx Services Ltd. comparable should be excluded. The assessing officer/transfer pricing officer is directed to make the necessary competition in light of directions as above. In the result this appeal by the assessee is partly allowed.
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