https://www.taxtmi.com/caselaws?id=363786 The High Court determined that the comparables selected for Transfer Pricing were unsuitable due to differences in functional profiles, emphasizing the importance of aligning comparables with the assessee's activities. It also stressed the necessity of justly determining the arms length price by considering the Transfer Pricing Officer's reasoning. The Court found Neeman Medical International [Asia] Limited to be a valid comparable despite occasional losses, highlighting the significance of functional comparability over isolated financial indicators. It concluded that dissatisfaction with Tribunal findings alone does not warrant appeal, dismissing Revenue's appeals and emphasizing consistent application of legal standards in Transfer Pricing disputes. en-us Tue, 10 Jul 2018 00:00:00 +0530 Wed, 18 Jul 2018 06:15:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363786 The High Court determined that the comparables selected for Transfer Pricing were unsuitable due to differences in functional profiles, emphasizing the importance of aligning comparables with the assessee's activities. It also stressed the necessity of justly determining the arms length price by considering the Transfer Pricing Officer's reasoning. The Court found Neeman Medical International [Asia] Limited to be a valid comparable despite occasional losses, highlighting the significance of functional comparability over isolated financial indicators. It concluded that dissatisfaction with Tribunal findings alone does not warrant appeal, dismissing Revenue's appeals and emphasizing consistent application of legal standards in Transfer Pricing disputes. Case-Laws Income Tax Tue, 10 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363786