https://www.taxtmi.com/caselaws?id=457513 ITAT Bangalore ruled on transfer pricing comparable selection criteria. The tribunal held that companies with turnover exceeding Rs. 200 crores should be excluded from comparables. Regarding persistent loss filter, following Affinity Express India precedent, companies cannot be excluded merely for losses in two of three preceding years unless they are consistent loss-makers. The TPO must reconsider rejected comparables under this revised filter. The tribunal also identified arithmetic errors in computing operating margins and directed AO/TPO to verify forex loss treatment to avoid double consideration in expense calculations. en-us Fri, 20 Jan 2023 00:00:00 +0530 Sat, 21 Sep 2024 16:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457513 ITAT Bangalore ruled on transfer pricing comparable selection criteria. The tribunal held that companies with turnover exceeding Rs. 200 crores should be excluded from comparables. Regarding persistent loss filter, following Affinity Express India precedent, companies cannot be excluded merely for losses in two of three preceding years unless they are consistent loss-makers. The TPO must reconsider rejected comparables under this revised filter. The tribunal also identified arithmetic errors in computing operating margins and directed AO/TPO to verify forex loss treatment to avoid double consideration in expense calculations. Case-Laws Income Tax Fri, 20 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457513