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The Commissioner of Income-tax-1 Hyderabad Versus M/s. CES Pvt Ltd

Deduction u/s 10A computation - Held that:- Communication expenses should be excluded from both export turnover as well as total turnover for the purpose of computing deduction under Section 10A. - TPA - comparable companies selection - Held that:- On the question of comparable cases, the learned Tribunal in paragraph 15 of the judgment and order has held that the Coordinate Benches have already decided that these companies are not to be selected for comparable cases for various reasons. Sim .....

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ed 29.11.2003 passed in I.T.A.No.1445/Hyderabad/2010 in relation to the assessment year 2006-07 on the following suggested questions of law. 1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in rejecting comparable companies on the ground of exceptionally large scale of operations without appreciating the fact that high or low turnover does not influence the profit margins? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was jus .....

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case, the Tribunal was justified in rejecting the comparable companies merely on the grounds of extraordinary events like merger/demerger change in controlling stake, when the tax payer did not demonstrate effect of such events on the profitability of the comparable? 5. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in accepting the contentions of the tax payer and rejecting the comparables without appreciating the fact that the assessee never objected to .....

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