Transfer Pricing – Even Loss/High-Profit Companies Can Be Compared

Exxon Mobil Company India P. Ltd. V/s Dy. Commissioner of Income Tax IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI ITA No. 8311/Mum./2010 (Assessment Year: 2006- 07) Date of Hearing: 11.4.2011 ORDER PER J. SUDHAKAR REDDY, A.M. This appeal preferred by the assessee, is directed against the impugned order dated 20th September 2010, passed by the Assessing Officer under section 143(3) r/w section 144C(13) of the Income Tax Act, 1961 (for short “the Act”). 2.  The assessee company filed its return of income on 30th November 2006, declaring total income of 22,17,44,830...