https://www.taxtmi.com/caselaws?id=288521 The High Court of Bombay upheld the acceptance of ICRA Management Consulting Services Ltd. as a comparable company for the relevant Assessment Year based on its functional profile and previous acceptance. However, regarding EDCIL, the Court directed a review to determine if accepting it as a comparable solely based on its use in the earlier Assessment Year was justified. The judgment emphasized the necessity of conducting a detailed comparability analysis for the relevant financial year in accordance with Rule 10B(4) of the Income Tax Rules, 1962. en-us Tue, 13 Dec 2016 00:00:00 +0530 Sat, 13 Jun 2020 09:49:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288521 The High Court of Bombay upheld the acceptance of ICRA Management Consulting Services Ltd. as a comparable company for the relevant Assessment Year based on its functional profile and previous acceptance. However, regarding EDCIL, the Court directed a review to determine if accepting it as a comparable solely based on its use in the earlier Assessment Year was justified. The judgment emphasized the necessity of conducting a detailed comparability analysis for the relevant financial year in accordance with Rule 10B(4) of the Income Tax Rules, 1962. Case-Laws Income Tax Tue, 13 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288521