| |
| The Tax Publishers2020 TaxPub(DT) 2470 (Hyd-Trib) INCOME TAX ACT, 1961
Section 92C
Where TPO without considering decision of ITAT as cited by assessee adopted certain entities as comparable to assessee's case, matter regarding comparability was set aside to TPO for de novo consideration.
|
Transfer pricing - Determination of aLP - Selection of comparables - Decision(s) of the ITAT on various comparables though cited by assessee, have not been considered by
Assessee entered into transactions with AE abroad. TPO considered certain companies as comparable to assessee's case. Assessee challenged this on the ground that decisions of the ITAT on various comparables though cited by assessee, have not been consdiered by TPO.Held: Since both parties had tentatively agreed for a remand of issue to TPO, set aside to TPO matter was for de novo consideration. TPO would examine whether assessee's case was similar to the cases on which it has placed reliance and whether thedistinguishable factors for exclusion of comparables in those cases also existed in assessee's case. If it is found that the assessee's case was similar and distinguishing factors existed, then TPO would exclude such companies from final list of comparables and TPO would be free to adopt any other comparable companies if they are so comparable to assessee.
REFERRED :
FAVOUR : Matter remanded
A.Y. :
IN THE ITAT, HYDERABAD BENCH
 SUBSCRIBE FOR FULL CONTENT
OR Try Reload the Page |