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No functional incomparability if TPO not reject a comparable on same ground
Case Law Details
- Case Name
- Carlyle India Advisors Private Limited Vs. The ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007- 08
- Courts
- All ITAT, ITAT Mumbai
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Investment Banking/ Merchant Banking activities held by the Tribunal as functionally different from provision of Investment Advisory services
The only comparable chosen by the assessee viz., M/S.IDC India Ltd., which has also been relied upon by the TPO now survives for consideration. The com parables chosen by the assessee on the basis of the contemporaneous data for A.Y 2006- 07 gives an arithmetic mean of 18.97% which we have already mentioned. This is the highest arithmetic mean of the comparable chosen by the assessee. Even if this arithmetic mean is taken to be reflecting the operating m...
