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of <h1>Appeal Questions Tribunal's Ruling on Related Party Transactions Threshold for Comparability in 2007-08 Assessment Year</h1> <h3>The Commissioner of Income Tax16 Versus M/s. ZEE Entertainment</h3> The Bombay HC admitted an appeal concerning the Assessment Year 2007-08, questioning whether the Tribunal was justified in considering Related Party ... TP Adjustment - comparable selection - admission of appeal on substantial question of law. HELD THAT:- Appeal admitted on the following substantial question of law: “Whether on the facts and circumstances of the case and in law, the Tribunal is satisfied in holding that if the Related Party Transactions in a case do not exceed 25% of the total sales, the same can be taken as a comparable case ignoring the decisions of the Tribunal in the case of M/s. Benetton India Pvt. Ltd [2011 (11) TMI 194 - ITAT DELHI] and in the case of Wills Processing Services (I) Pvt. Ltd. [2014 (4) TMI 814 - ITAT MUMBAI] wherein it has been held that Related Party Transactions should be in the vicinity of 10% to 15% of the total sales for comparability analysis? Registry is directed to communicate copy of this order to the Tribunal. This would enable the Tribunal to keep papers and proceedings relating to the present appeal available, to be produced when sought for by the Court. The Bombay High Court, presided over by Justices M.S. Sanklecha and Riyaz I. Chagla, has admitted an appeal concerning the Assessment Year 2007-08. The appeal raises a substantial question of law: 'Whether on the facts and circumstances of the case and in law, the Tribunal is justified in holding that if the Related Party Transactions in a case do not exceed 25% of the total sales, the same can be taken as a comparable case, ignoring the decisions of the Tribunal in the case of M/s. Benetton India Pvt. Ltd. and Wills Processing Services (I) Pvt. Ltd., where it was held that Related Party Transactions should be in the vicinity of 10% to 15% of the total sales for comparability analysisRs.' The Registry is instructed to communicate this order to the Tribunal to ensure relevant documents are available for court proceedings. Mr. Sanjiv M. Shah, representing the Respondent, has waived notice. The case is to be heard along with Income Tax Appeal No. 1729 of 2013.
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