https://www.taxtmi.com/caselaws?id=752534 The ITAT Hyderabad ruled on transfer pricing comparable selection and MAT credit issues. Regarding HSIL Limited, the tribunal upheld its inclusion as a comparable, noting that despite generic website descriptions, both entities' core activities involve tiles and sanitaryware. For Cera Sanitary Ware Limited, the tribunal directed its exclusion from comparables, following a coordinate bench decision for assessment year 2015-16 that distinguished the company based on raw material consumption patterns not being relatable to revenue proportions. The tribunal also granted MAT credit as admissible in law, addressing the crystallization of tax demand while considering carried forward credits from previous assessment years. en-us Thu, 09 May 2024 00:00:00 +0530 Sat, 11 May 2024 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752534 The ITAT Hyderabad ruled on transfer pricing comparable selection and MAT credit issues. Regarding HSIL Limited, the tribunal upheld its inclusion as a comparable, noting that despite generic website descriptions, both entities' core activities involve tiles and sanitaryware. For Cera Sanitary Ware Limited, the tribunal directed its exclusion from comparables, following a coordinate bench decision for assessment year 2015-16 that distinguished the company based on raw material consumption patterns not being relatable to revenue proportions. The tribunal also granted MAT credit as admissible in law, addressing the crystallization of tax demand while considering carried forward credits from previous assessment years. Case-Laws Income Tax Thu, 09 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752534