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2018 (5) TMI 239 - AT - Income TaxTPA - comparable selection criteria - functional similarity - Held that:- Assessee is a company engaged in the business of providing back office data creation, content development, software and web development, thus companies companies functionally dissimilar with that of assessee need to be deselected from final list. Negative Working Capital adjustment - Held that:- As in the case of Adaptec (India) P. Ltd., Vs. ACIT [2015 (6) TMI 288 - ITAT HYDERABAD] Negative working capital should not be made. Therefore, AO is directed not to make any negative working capital adjustment. This ground is considered allowed accordingly. Short credit of tax deducted at source - Held that:- Since assessee did not get any opportunity and the working was not provided. Ld. Counsel pleaded for a direction to AO to give the credit as claimed. Since this requires verification of the TDS claims and the record of the department, we direct the AO to examine and give the credit as claimed after due verification. In case of any variation, assessee should be given an opportunity to explain or modify the claims or to furnish further evidence in support of its claims. AO is directed accordingly.
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