https://www.taxtmi.com/caselaws?id=258160 The Tribunal upheld the exclusion of M/s. Ashapura Claytech Ltd. from the list of comparables for Transfer Pricing Analysis, disagreeing with the Revenue's argument that the companies were functionally similar. The Tribunal found that the nature of activities and products between the assessee, engaged in trading, and M/s. Ashapura Claytech Ltd., involved in manufacturing, were not comparable. As a result, the Tribunal dismissed the Revenue's appeal, affirming the exclusion of M/s. Ashapura Claytech Ltd. from the comparables list. en-us Wed, 11 Mar 2015 00:00:00 +0530 Thu, 02 Apr 2015 05:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258160 The Tribunal upheld the exclusion of M/s. Ashapura Claytech Ltd. from the list of comparables for Transfer Pricing Analysis, disagreeing with the Revenue's argument that the companies were functionally similar. The Tribunal found that the nature of activities and products between the assessee, engaged in trading, and M/s. Ashapura Claytech Ltd., involved in manufacturing, were not comparable. As a result, the Tribunal dismissed the Revenue's appeal, affirming the exclusion of M/s. Ashapura Claytech Ltd. from the comparables list. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258160