TP: Lower turnover cannot be sole basis for exclusion

Brief of the Case

ITAT Delhi held in the case American Express (India) Private Limited vs. DCIT that even though the assessee in its TP study has included the turnover filter of less than Rs.1 crore, the assessee has given reasons for inclusion of these two companies in the list of comparables, primarily for the reason that these are not start-up companies and functional data for these companies are reliable. Also the Tribunal in the case of Techbook International Pvt. Ltd. ITA No.240 /Del/2015 o

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