Madhu Jayanti International Limited, Kolkata vs. DCIT, Circle - 4(1), Kolkata
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 214/KOL/2016[2011-2012]Status: DisposedITAT Kolkata01 Dec 2017AY 2011-2012
Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 214/Kol/2016 Assessment Year : 2011-12 Madhu Jayanti International Ltd. -Vs- Dcit, Cc-4(1), Kolkata [Pan: Aabcm 7502 R] (Appellant) (Respondent)
For Appellant: Shri Akash Mansinka, ARFor Respondent: Shri G. Mallikarjune, CIT DR
Section 139(5)Section 143(3)Section 144C(5)Section 92CSection 92D
…ee renders services in USA while Shreejal Info Hubs Ltd. renders services in India. This fact alone is sufficient to exclude this comparable. Thus, it is held that the AO/TPO rightly rejected this case as a comparable case. -Ranbaxy Laboratories Ltd. v ACIT [299 ITR 175] where the Delhi TTAT held that the economic conditions prevailing in the market such as geographical locations, size of market etc. are to be considered. Secret Comparables In this regard it is pertinent to note the OECD Comparability: Public invitation to comment on a series of draft issue notes also states that though tax administrations have…
