Company with Turnover 10 times of Assessee’s Cannot Be Included as Comparable: ITAT Hyderabad

Benu Networks Packet Switch Private Limited Vs DCIT (ITAT Hyderabad) ITAT Hyderabad directed to exclude companies having turnover of more than or less than 10 times of the turnover of the assessee from the list of comparable. Accordingly, matter remanded back to the file of AO/ TPO. Facts- Assessee is company is engaged in the business of development and support of computer software. Assessee company filed its return of income for A.Y.2016-17 on 09.08.2017 declaring income of Rs.1,56,45,860/- under normal provisions. Thereafter, the case of the assessee was selected for scrutiny under CASS. Ac...