ITAT directs TPO to exclude Companies with Turnover exceeding or below 10 times for Transfer Pricing Comparable Analysis [Read Order]

The relationship between the lending and borrowing entities, who shared a common director, cast doubt on the legitimacy of the claimed deduction
By Kavi Priya - On August 7, 2024 10:55 am - 2 mins read
Income Tax - Income Tax Act - Transfer pricing officer - TPO in Income Tax - TAXSCAN

The Hyderabad Bench of the Income Tax Appellate Tribunal orders the Transfer pricing officer ( TPO ) to apply the turnover filter to exclude companies with a Turnover of more than 10 times or less than 1/10th of the turnover of the assesseeā€™s company for Transfer Pricing Comparable Analysis. The Assessee, Benu Networks Packet involved…

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