https://www.taxtmi.com/caselaws?id=382972 The High Court set aside the order regarding the exclusion of two comparables in transfer pricing, emphasizing that functional similarity should be the determining factor, not just high turnover. The Court allowed the additional depreciation claim, stating that unless a clear disconnect between purchased items and their use in manufacturing is established, they qualify as plant equipment. The appeal was partly allowed, remitting the matter for re-consideration by the ITAT specifically on the exclusion of comparables in the transfer pricing analysis. en-us Mon, 29 Apr 2019 00:00:00 +0530 Sat, 13 Jul 2019 08:07:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382972 The High Court set aside the order regarding the exclusion of two comparables in transfer pricing, emphasizing that functional similarity should be the determining factor, not just high turnover. The Court allowed the additional depreciation claim, stating that unless a clear disconnect between purchased items and their use in manufacturing is established, they qualify as plant equipment. The appeal was partly allowed, remitting the matter for re-consideration by the ITAT specifically on the exclusion of comparables in the transfer pricing analysis. Case-Laws Income Tax Mon, 29 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382972