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2018 (4) TMI 499 - ITAT PUNETPA - Comparability analysis criteria - Reference to dispute resolution panel - Held that:- In view of the facts of the case, explicit provisions of section 144C we are of considered view that the Assessing Officer has erred in exceeding his jurisdiction and suo-moto adding companies in the final list of comparable companies proposed by TPO. AR stated at Bar that if four companies subsequently added by the Assessing Officer, are excluded from the list of comparables, the international transactions entered into by assessee with its AEs would fall within arm’s length and no adjustment would survive. We are of considered view that it would be appropriate to remit this issue back to the file of Assessing Officer for verification. The assessee shall demonstrate before the Assessing Officer that after exclusion of four companies as mentioned above, the international transactions of assessee would fall within the arm’s length. - Decided in favour of assessee for statistical purposes.
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