TP: Lower turnover cannot be sole basis for exclusion

Advertisement 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 order dated 06.07.2015 has held that low turnover per se cannot be reason to exclud...