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2020 (4) TMI 615 - AT - Income TaxTP Adjustment - comparable selection - functional dissimilarity - HELD THAT:- Ladderup Corporate Advisory Pvt. Ltd. - As decided in SUN-ARES INDIA REAL ESTATE PRIVATE LTD. [2018 (2) TMI 1950 - ITAT MUMBAI] exclusion of ‘Ladderup' as is not functionally comparable with the entity engaged in providing non-binding Investment Advisory Services as like Assessee. Motilal Oswal Investment Advisors Pvt.Ltd. is engaged in Merchant Banking Advisory activities is functionally different from the assessee, whose activities are purely non-binding investment advisory services. We do not find any merit in the appeal by Revenue. The directions, of the DRP in excluding ‘Motilal’ from the list of comparables are upheld and the appeal of the Revenue is dismissed.
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