ITAT sets aside TP adjustment as functionally dissimilar and loss making co. was chosen as a compara

IT/ILT : Where in course of transfer pricing proceedings, certain adjustment was made in respect of amount received by assessee for providing investment advisory services to its AE located abroad, in view of fact that selection of some of comparables was improper on account of functional difference and being a persistent loss making company, impugned adjustment was to be set aside and, matter was to be remanded back for disposal afresh