https://www.taxtmi.com/caselaws?id=402945 The Court upheld the ITAT's decision to exclude certain comparables due to lack of segmental information and related party transactions. It agreed with the Assessee regarding the taxability of composite rental income, directing the ITAT to decide on corporate tax grounds. The Court found the ITAT's direction to decide on issues like foreign exchange fluctuations and deductions appropriate. Different judgments were given for AY 2011-12 and AY 2012-13, dismissing the Revenue's appeal and remanding corporate tax issues to the ITAT for both years. The appeals were disposed of with directions for a thorough resolution based on available materials and High Court decisions. en-us Mon, 04 Jan 2021 00:00:00 +0530 Wed, 24 Mar 2021 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402945 The Court upheld the ITAT's decision to exclude certain comparables due to lack of segmental information and related party transactions. It agreed with the Assessee regarding the taxability of composite rental income, directing the ITAT to decide on corporate tax grounds. The Court found the ITAT's direction to decide on issues like foreign exchange fluctuations and deductions appropriate. Different judgments were given for AY 2011-12 and AY 2012-13, dismissing the Revenue's appeal and remanding corporate tax issues to the ITAT for both years. The appeals were disposed of with directions for a thorough resolution based on available materials and High Court decisions. Case-Laws Income Tax Mon, 04 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402945