Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (9) TMI 1182 - HC - Income TaxTPA - Comparable selection criteria - including Motilal Oswal Investment Advisors Pvt. Ltd. in the final set of comparables - Held that:- Tribunal concluded that though Motilal Oswal Investments Advisory Pvt. Ltd. was declaring a solitary stream of operating income under the head “advisory fee”, but un-disputedly it was engaged in diversified fields and the financial results for each segment were not seperately available. Considering that it engaged in many diversified fields and not only in the field of rendering nonbinding advisory services, the ITAT came to a finding that Motilal Oswal Investments Advisory Pvt. Ltd. was not a concern which could be included in the list of comparable companies. We do not think that these findings of fact are in any way perverse or vitiated by any error apparent on the face of the record which, in turn, would give rise to any substantial question of law. We are in full agreement with the findings given by the ITAT. No hesitation in holding that by comparing Motilal Oswal Investments Advisory Pvt. Ltd. to the assessee company (for the purposes of determining the ALP) would be like comparing apples and oranges. This being the case, we do not find any infirmity in the order of the ITAT excluding Motilal Oswal Investments Advisory Pvt. Ltd. from the final list of comparables which would give rise to any substantial question of law. No substantial question of law .
|