Comparables with turnover less than Rs. 200 Cr cannot be compared with comparables having turnover more than Rs. 200 Cr.

Galax E Solutions India Pvt. Ltd. Vs ACIT (ITAT Bangalore) ITAT held that companies having turnover more than 200 crores upto 500 crores has to be regarded as one category and those companies cannot be regarded as comparables with companies having turnover of less than 200 crores. FULL TEXT OF THE ORDER OF ITAT BANGALORE Present appeal is filed by assessee against final assessment order dated 25/09/2017 passed under section 143(3) read with section 144C of the Act by the Ld.ACIT Transfer Pricing officer, Circle 3(1)(2), Bangalore on following grounds of appeal: “1. The Learned Transfer Prici...