https://www.taxtmi.com/caselaws?id=331477 The Revenue's appeal against excluding ANG Industries Ltd. from comparable companies in transfer pricing analysis was dismissed. The CIT(A) and Tribunal upheld the exclusion due to functional differences, emphasizing ANG Industries' diversified business activities post-restructuring, including trailer manufacturing. The decision stressed the importance of functional comparability in benchmarking international transactions, in line with Chandigarh Tribunal's principles. ANG Industries Ltd. was deemed not functionally comparable to the assessee, leading to the Revenue's appeal dismissal and ANG Industries' exclusion from the final set of comparables. en-us Fri, 20 May 2016 00:00:00 +0530 Wed, 24 Aug 2016 11:02:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331477 The Revenue's appeal against excluding ANG Industries Ltd. from comparable companies in transfer pricing analysis was dismissed. The CIT(A) and Tribunal upheld the exclusion due to functional differences, emphasizing ANG Industries' diversified business activities post-restructuring, including trailer manufacturing. The decision stressed the importance of functional comparability in benchmarking international transactions, in line with Chandigarh Tribunal's principles. ANG Industries Ltd. was deemed not functionally comparable to the assessee, leading to the Revenue's appeal dismissal and ANG Industries' exclusion from the final set of comparables. Case-Laws Income Tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331477