TP – Super profit companies cannot be considered as comparable

IN THE ITAT MUMBAI BENCH ‘K’ Lintas India (P.) Ltd. Versus Assistant Commissioner of Income-tax – 3(2), Mumbai IT APPEAL NO. 2024 (MUM.) OF 2007 [ASSESSMENT YEAR 2002-03] NOVEMBER 9, 2012 ORDER Per Bench – This is an assessee’s appeal against the orders of the CIT(A)-3 Mumbai, dated 02.01.2007. Assessee has raised five grounds which are as under: “On the facts and in the circumstances of the case and in law:-   1.  The ld. Commissioner of Income Tax (Appeals) erred in confirming a sum of Rs. 32,50,141/- spent on repairs as ‘capital e...