Case Law Details
It is undisputed that these three companies have shown super normal comparable profits as compared to the other comparable. There exclusion from the list of comparable is quite correct. By excluding these three companies from the com parables and showing the computation on the basis of TPO data the arithmetic mean of OP/OC to 17.15% which falls within the +-5% range as permitted by section 92(C)(2). Hence, we find considerable cogency in the arguments of the ld. counsel of the assessee in this regard.
We further find that assessee has made voluminous submissions including paper books before the DRP who has passed a very cursory and laconic order without going into the details of the submissions. We find that this is quite contrary to the mandate of section 144C of the IT Act.
Adobe Systems India Pvt Ltd Vs. ACIT (ITAT Delhi)
I.T.A. No. 5043/Del/2010
A.Y. : 2006- 07
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