https://www.taxtmi.com/caselaws?id=265667 The Tribunal upheld the CIT(A)'s decision in a transfer pricing dispute. The rejection of comparable companies was justified based on functional dissimilarity. The CIT(A) erred in not granting adjustments for material differences in risk profiles. The non-allowance of a standard deduction of +/-5% was upheld. The CIT(A) directed the AO not to make depreciation adjustments on uncommon assets, emphasizing the need for parity. The Tribunal affirmed that no adjustments should be made to the tested party's net profit margins and dismissed both parties' appeals as the issues were either academic or already addressed effectively by the CIT(A). en-us Wed, 15 Jul 2015 00:00:00 +0530 Wed, 14 Oct 2015 07:45:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265667 The Tribunal upheld the CIT(A)'s decision in a transfer pricing dispute. The rejection of comparable companies was justified based on functional dissimilarity. The CIT(A) erred in not granting adjustments for material differences in risk profiles. The non-allowance of a standard deduction of +/-5% was upheld. The CIT(A) directed the AO not to make depreciation adjustments on uncommon assets, emphasizing the need for parity. The Tribunal affirmed that no adjustments should be made to the tested party's net profit margins and dismissed both parties' appeals as the issues were either academic or already addressed effectively by the CIT(A). Case-Laws Income Tax Wed, 15 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265667