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2017 (4) TMI 762 - AT - Income TaxTPA - selection of comparable - criteria - Held that:- Product development company cannot be compared with that of software development company. Companies dissimilar or functionally different from the assessee software development company need to be rejected from final list of comparable. Turnover is not a relevant criteria for the purpose of deciding the comparability. From a bare perusal of rule 10B(2) of the IT Rules, it is clear that the rule does not specify that turnover is not one of the factors for deciding the comparability. Computation of deduction u/s 10A - Held that:- CIT(A) directed the AO to recomputed the deduction allowable u/s 10A of the Act after reducing the telecommunication charges and exchange fluctuation loss from total turnover also.
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