Sunday, 5 January 2014

ITAT calls for exclusion of comparables in which high operating margin occurred due to extraordinary

IT/ILT : Where assessee had entered into international transactions with its associated enterprise and Commissioner (Appeals) selected certain companies as comparable to assessee for determination of ALP, since there was an extraordinary event which resulted in high operating profit margin of said companies, Assessing Officer was directed to exclude above comparable and re-work out arm's length margin


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