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2016 (5) TMI 1183 - ITAT MUMBAITransfer pricing adjustment - inclusion of ICRA as comparable - Held that:- If the TPO himself had included ICRA as a comparable in earlier and subsequent years there was no justification for not including the same for the year under consideration on the ground that it had suffered losses. As stated earlier, if the results of ICRA are considered for TP purposes, the case will fall within the range of ± 5% and the adjustment made by the TPO would not survive. Considering the peculiar facts and circumstances of the case we hold that while finalising the TP adjustment ICRA should have been included as a comparable and that the TPO was not justified in making the adjustment of ₹ 63.881akhs.Effective ground of appeal is decided in favour of the assessee.
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