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The Tax Publishers2020 TaxPub(DT) 0569 (Ahd-Trib) INCOME TAX ACT, 1961
Section 92C
There is no law suggesting that comparable selected one year should necessarily be selected in the other. It is because filter applied can be different from one year to other depending upon facts and circumstances of each year. Therefore, TPO was directed to certainly consider includibility in list of comparable companies in light of search filters adopted by him for the year under consideration.
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Transfer pricing - Determination of ALP - Selection of comparables - Assessee seeking inclusion of certain company on the ground of inclusion in earlier year
Assessee engaged in manufacture of valves entered into following international transactions with AEs such as Import of raw materials, parts etc.; Import of finished goods for resale; Export of valves and valves components; Export of finished goods (resale); and Receipt of commission. It proposed to include one company namely KAR Mobile in the list of comparable pleading that said company passed search filters applied by TPO for assessment year 2011-12. Therefore, such company was also be considered for the year under consideration. Held: There is no law suggesting that comparable selected one year should necessarily be selected in the other. It is because filter applied can be different from one year to other depending upon facts and circumstances of each year. Therefore, TPO was directed to certainly consider inclusion of such company in the list of comparable companies in light of search filters adopted by him for the year under consideration.
REFERRED :
FAVOUR : Matter remanded.
A.Y. :
INCOME TAX ACT, 1961
Section 92C
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