If only one comparable is considered to determine ALP, benefit of ± 5 percent as provided by proviso to S. 92C(2) will not be available

ITAT MUMBAI BENCH ‘K’ General Atlantic (P.)Ltd. Versus Deputy Commissioner of Income-tax IT Appeal NO. 8914 (MUM.) OF 2010 [ASSESSMENT YEAR 2006-07] JANUARY 31, 2013 ORDER Vijay Pal Rao, Judicial Member This appeal by the assessee is directed against the assessment order dt 13.10.2010 passed u/s 143(3) r.w.s 144C(13) of the IT Act in pursuant to the directions of the Dispute Resolution Panel (DRP) passed u/s 144(5) of the IT Act for the AY 2006-07. 2. The assessee has raised the following grounds in this appeal: Based on the facts and circumstances of the case, th...