https://www.taxtmi.com/caselaws?id=427887 The Appellate Tribunal ITAT Pune condoned a time-barred appeal due to the Covid-19 pandemic, allowing it for disposal on merits. The case involved transfer pricing adjustments on international transactions, specifically focusing on the exclusion and inclusion of companies in the list of comparables based on profitability margins. The Tribunal upheld the exclusion of companies with different financial year endings and the inclusion of a company with high profit margins, emphasizing the need for valid reasons for exclusion based on abnormal business conditions. Ultimately, the appeal was dismissed, highlighting the importance of sound reasoning in determining comparability for transfer pricing adjustments. en-us Thu, 15 Sep 2022 00:00:00 +0530 Mon, 19 Sep 2022 09:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427887 The Appellate Tribunal ITAT Pune condoned a time-barred appeal due to the Covid-19 pandemic, allowing it for disposal on merits. The case involved transfer pricing adjustments on international transactions, specifically focusing on the exclusion and inclusion of companies in the list of comparables based on profitability margins. The Tribunal upheld the exclusion of companies with different financial year endings and the inclusion of a company with high profit margins, emphasizing the need for valid reasons for exclusion based on abnormal business conditions. Ultimately, the appeal was dismissed, highlighting the importance of sound reasoning in determining comparability for transfer pricing adjustments. Case-Laws Income Tax Thu, 15 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427887