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| The Tax Publishers2021 TaxPub(DT) 0030 (Bang-Trib) INCOME TAX ACT, 1961
Section 92C
As there was profit in one year out of consecutive three financial years concerned entity could not be treated as persistent loss making entity so as to exclude it from list of comparables.
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Transfer pricing - Determination of ALP - Selection of comparables - Company having made profit in one year out of three successive financial years treated as persistent loss making concern
Assessee entered into transactions with its AE abroad. TPO excluded certain company applying the persistent loss filter. Assessee contended that entity excluded had earned profit in one out of three successive financial years. Held: As there was profit in one year out of consecutive three financial years concerned entity could not be treated as persistent loss making entity. Accordingly, issue regarding comparability was remanded to TPO.
Relied:KBACE Technologies Pvt. Ltd. ITA No.3189/Bang/2018 dated 29-1-2020 for the assessment year 2014-15 : 2020 TaxPub(DT) 0777 (Bang-Trib).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
INCOME TAX ACT, 1961
Section 92C
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