https://www.taxtmi.com/caselaws?id=461673 ITAT Mumbai held that TPO/DRP was not justified in including MOIAPL, IDFC, and ICRA-O as valid comparables for determining ALP of assessee's transactions. The tribunal relied on precedents from Carlyle India Advisors cases establishing that MOIAPL was a merchant banker providing dissimilar services to investment advisory, and AGM India Advisors case excluding ICRA-O for non-binding advisory services. AO was directed to exclude all three comparables from final list. Appeal decided in favor of assessee. en-us Fri, 11 Nov 2016 00:00:00 +0530 Mon, 21 Apr 2025 19:02:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461673 ITAT Mumbai held that TPO/DRP was not justified in including MOIAPL, IDFC, and ICRA-O as valid comparables for determining ALP of assessee's transactions. The tribunal relied on precedents from Carlyle India Advisors cases establishing that MOIAPL was a merchant banker providing dissimilar services to investment advisory, and AGM India Advisors case excluding ICRA-O for non-binding advisory services. AO was directed to exclude all three comparables from final list. Appeal decided in favor of assessee. Case-Laws Income Tax Fri, 11 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461673