Inadequate information & distinct functional profile: Comparable cannot be accepted

PCIT Vs WSP Consultants India Pvt Ltd (Delhi High Court) Introduction: The recent case of Principal Commissioner of Income Tax (PCIT) versus WSP Consultants India Pvt Ltd saw the Delhi High Court addressing critical transfer pricing issues for the Assessment Year 2012-13. The appellant, represented by the revenue authority, contested the Income Tax Appellate Tribunal’s (ITAT) order dated March 2023. Background: WSP Consultants India Pvt Ltd, the respondent/assessee, filed its Return of Income for the relevant Assessment Year on November 30, 2012, declaring a loss of Rs. 5,58,25,905/-. ...