9911796707
TMI Blog2017 (6) TMI 350X X X X Extracts X X X X X X X X Extracts X X X X ..... ve placed a restriction on the Assessee to the effect that it had to place before the AO/TPO only "the relevant data of the said company for the concerned financial year on the basis of the information available from their annual reports, without making any calculations at its own." Such a restriction was contrary to what is envisaged in the proviso to Rule 10 B (4) of the Rules. Consequently, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. The delay in refiling is condoned. ITA 343/2017 3. This appeal by the Assessee under Section 260 A of the Income Tax Act 1961 ('Act') is directed against an order dated 28th September 2016 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No. 2375/Del/2011 for Assessment Year (AY) 2005-06. 4. Notice. Mr. Asheesh Jain, learned counsel for the Revenue accepts notice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e calendar year, whereas the Assessee prepared its accounts on the basis of the financial year. The ITAT observed that a valid comparison can be made only if the comparable company has also the same financial year. The ITAT further held that for making a valid comparison, it is sine qua non that the data of the comparables must be for the same period as that of the assessee company. 9. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laced a restriction on the Assessee to the effect that it had to place before the AO/TPO only the relevant data of the said company for the concerned financial year on the basis of the information available from their annual reports, without making any calculations at its own. Such a restriction was contrary to what is envisaged in the proviso to Rule 10 B (4) of the Rules. 12. Consequently, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
